30ACAER wholesale market monitoring and reporting functions

30AC AER wholesale market monitoring and reporting functions

30AC AER wholesale market monitoring and reporting functions

(1) The AER wholesale market monitoring functions are as follows—

(a) to, in accordance with this Law and the Rules, regularly and systematically monitor and review—

(i) the performance of wholesale gas markets; and

(ii) the operation and effect on wholesale gas markets of financial risk management products; and

(iii) whether the availability of financial risk management products has an effect on competition within, and the efficient functioning of, wholesale gas markets; and

(iv) bilateral trading agreements, including their effect on wholesale gas markets;

(b) in connection with paragraph (a)—to identify and analyse whether, for a particular wholesale gas market—

(i) there is effective competition within the market; and

(ii) there are features of the market that may be detrimental to effective competition within the market; and

(iii) there are features of the market that may be impacting detrimentally on the efficient functioning of the market and, if so, the extent of the inefficiency; and

(iv) there are features of the market that may be impacting detrimentally on the achievement of the national gas objective; and

(v) bilateral trading agreements have an impact on the efficient functioning of the market;

(c) other monitoring or analysing functions, conferred on the AER by the Rules, relating to the following matters within a wholesale gas market—

(i) offers;

(ii) prices, including forecast and actual prices and bidding.

(2) The AER wholesale market reporting functions are as follows—

(a) to prepare, at least once every 2 years, a report on the performance of the AER wholesale market monitoring functions (a monitoring report);

(b) to provide, as the AER thinks fit, advice to the MCE on the results of the performance of the AER wholesale market monitoring functions, including advice as to—