sec.18CAER wholesale market monitoring and reporting functions

sec.18C AER wholesale market monitoring and reporting functions

The AER wholesale market monitoring functions are as follows: to, in accordance with this Law and the Rules, regularly and systematically monitor and review the performance of monitored markets; in connection with paragraph (a) , to identify and analyse whether, in relation to a particular monitored market— there is effective competition within the market; and there are features of the market that may be detrimental to effective competition within the market; and there are features of the market that may be impacting detrimentally on the efficient functioning of the market (and, if so, to assess the extent of the inefficiency); and there are features of the market that may be impacting detrimentally on the achievement of the national electricity objective; other monitoring or analysing functions, conferred on the AER by the Rules, relating to the following matters within a monitored market: offers; prices, including forecast and actual prices and bidding. The AER wholesale market reporting functions are as follows: to prepare, at least once every 2 years, a report on the results of the performance of the AER wholesale market monitoring functions; to provide, as the AER thinks fit, advice on the results of the performance of the AER wholesale market monitoring functions to the MCE, including advice as to— the AER’s opinion (and reasons for the opinion) on whether those results identify, in relation to a monitored market, features of the market (whether systemic or otherwise) that— may be detrimental to effective competition within the market; or may be impacting detrimentally on the efficient functioning of the market, such that a legislative, regulatory or other response is required; and any limitations that the AER considers may restrict its ability to communicate with relevant persons about the results of the performance of the AER wholesale market monitoring functions; other reporting requirements that relate to the AER wholesale market monitoring functions conferred on the AER by the Rules. A report prepared under subsection (2) (a) must, in relation to a monitored market monitored during the period to which the report relates (which must be a period of at least 5 years), contain a discussion and analysis of— the results of the performance of the AER wholesale market monitoring functions for the relevant period; and features of the market that impact detrimentally on the efficient functioning of the market and the achievement of the national electricity objective, including (but not limited to)— the presence of significant barriers to entry; or any other features of the industry structure that give rise to concerns that there may not be effective competition within the market; and inefficiencies in the market, their causes and whether conditions in the market are such that the inefficiencies are likely to impact detrimentally in the long term on the efficient functioning of the market; and the monitoring methodology applied and the results of indicators, tests and calculations performed; and other matters of a long term nature relevant to effective competition within the market, including, for example, observations relating to planned increases in interconnector capacity and trends in demand for electricity and in the uptake of alternative sources of energy. The AER must publish a report prepared under subsection (2) (a) on its website. Before publishing a report prepared under subsection (2) (a) the AER must consult with relevant stakeholders. s 18C ins 2016 No. 56 (SA) s 6 amd 2024 No. 12 (SA) s 8 (sec.18C-ssec.1) The AER wholesale market monitoring functions are as follows: to, in accordance with this Law and the Rules, regularly and systematically monitor and review the performance of monitored markets; in connection with paragraph (a) , to identify and analyse whether, in relation to a particular monitored market— there is effective competition within the market; and there are features of the market that may be detrimental to effective competition within the market; and there are features of the market that may be impacting detrimentally on the efficient functioning of the market (and, if so, to assess the extent of the inefficiency); and there are features of the market that may be impacting detrimentally on the achievement of the national electricity objective; other monitoring or analysing functions, conferred on the AER by the Rules, relating to the following matters within a monitored market: offers; prices, including forecast and actual prices and bidding. (sec.18C-ssec.2) The AER wholesale market reporting functions are as follows: to prepare, at least once every 2 years, a report on the results of the performance of the AER wholesale market monitoring functions; to provide, as the AER thinks fit, advice on the results of the performance of the AER wholesale market monitoring functions to the MCE, including advice as to— the AER’s opinion (and reasons for the opinion) on whether those results identify, in relation to a monitored market, features of the market (whether systemic or otherwise) that— may be detrimental to effective competition within the market; or may be impacting detrimentally on the efficient functioning of the market, such that a legislative, regulatory or other response is required; and any limitations that the AER considers may restrict its ability to communicate with relevant persons about the results of the performance of the AER wholesale market monitoring functions; other reporting requirements that relate to the AER wholesale market monitoring functions conferred on the AER by the Rules. (sec.18C-ssec.3) A report prepared under subsection (2) (a) must, in relation to a monitored market monitored during the period to which the report relates (which must be a period of at least 5 years), contain a discussion and analysis of— the results of the performance of the AER wholesale market monitoring functions for the relevant period; and features of the market that impact detrimentally on the efficient functioning of the market and the achievement of the national electricity objective, including (but not limited to)— the presence of significant barriers to entry; or any other features of the industry structure that give rise to concerns that there may not be effective competition within the market; and inefficiencies in the market, their causes and whether conditions in the market are such that the inefficiencies are likely to impact detrimentally in the long term on the efficient functioning of the market; and the monitoring methodology applied and the results of indicators, tests and calculations performed; and other matters of a long term nature relevant to effective competition within the market, including, for example, observations relating to planned increases in interconnector capacity and trends in demand for electricity and in the uptake of alternative sources of energy. (sec.18C-ssec.4) The AER must publish a report prepared under subsection (2) (a) on its website. (sec.18C-ssec.5) Before publishing a report prepared under subsection (2) (a) the AER must consult with relevant stakeholders.