sec.118AZGReview of Part

sec.118AZG Review of Part

The AEMC must periodically review this Part to determine whether the policy objectives of the Part remain valid and whether the terms of the Part remain appropriate for securing those objectives. Reviews under this section must consider the following matters: the contribution of the OEM framework to the orderly exit of generating units from the market; the contribution of the OEM framework to mitigating disruption in the market from the early exit of generating units from the market; options for improving the administrative efficiency of the OEM framework; the cost of the OEM framework; matters prescribed by the Rules. Reviews under this section are to be undertaken as follows: the first review must be undertaken as soon as possible after the period of 5 years from the commencement of this Part; each subsequent review must commence 5 years after the commencement of the immediately preceding review. A report on the outcome of each review is to be given to the MCE within 12 months after the commencement of the review. Each member of the MCE from a mandatory operation jurisdiction must table a report under this section in each House of the jurisdiction’s Parliament within 3 months after the report is given to the MCE. With the prior approval of the MCE, the AEMC may postpone a review, for a period of up to 5 years, if it is satisfied the review is unlikely to be of value. In this section— mandatory operation jurisdiction means a participating jurisdiction to which this Part applies; OEM framework means this Part and Rules made under this Part. s 118AZG ins 2024 No. 62 (SA) s 6 (sec.118AZG-ssec.1) The AEMC must periodically review this Part to determine whether the policy objectives of the Part remain valid and whether the terms of the Part remain appropriate for securing those objectives. (sec.118AZG-ssec.2) Reviews under this section must consider the following matters: the contribution of the OEM framework to the orderly exit of generating units from the market; the contribution of the OEM framework to mitigating disruption in the market from the early exit of generating units from the market; options for improving the administrative efficiency of the OEM framework; the cost of the OEM framework; matters prescribed by the Rules. (sec.118AZG-ssec.3) Reviews under this section are to be undertaken as follows: the first review must be undertaken as soon as possible after the period of 5 years from the commencement of this Part; each subsequent review must commence 5 years after the commencement of the immediately preceding review. (sec.118AZG-ssec.4) A report on the outcome of each review is to be given to the MCE within 12 months after the commencement of the review. (sec.118AZG-ssec.5) Each member of the MCE from a mandatory operation jurisdiction must table a report under this section in each House of the jurisdiction’s Parliament within 3 months after the report is given to the MCE. (sec.118AZG-ssec.6) With the prior approval of the MCE, the AEMC may postpone a review, for a period of up to 5 years, if it is satisfied the review is unlikely to be of value. (sec.118AZG-ssec.7) In this section— mandatory operation jurisdiction means a participating jurisdiction to which this Part applies; OEM framework means this Part and Rules made under this Part.