sec.30ACAER wholesale market monitoring and reporting functions

sec.30AC 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 wholesale gas markets; and the operation and effect on wholesale gas markets of financial risk management products; and whether the availability of financial risk management products has an effect on competition within, and the efficient functioning of, wholesale gas markets; and bilateral trading agreements, including their effect on wholesale gas markets; in connection with paragraph (a) —to identify and analyse whether, for a particular wholesale gas 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, the extent of the inefficiency; and there are features of the market that may be impacting detrimentally on the achievement of the national gas objective; and bilateral trading agreements have an impact on the efficient functioning of the market; other monitoring or analysing functions, conferred on the AER by the Rules, relating to the following matters within a wholesale gas 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 performance of the AER wholesale market monitoring functions (a monitoring report ); 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— whether the results identify a need for a legislative, regulatory or other response to address systemic or other features of a wholesale gas market that may— be detrimental to effective competition within the market; or detrimentally impact on the efficient functioning of the market; and limitations on the AER’s ability to communicate with relevant persons about the performance of the AER wholesale market monitoring functions; other reporting requirements, conferred on the AER by the Rules, relating to the AER wholesale market monitoring functions. A monitoring report must, for a wholesale gas market monitored during the period to which the report relates— be for a monitoring period of at least 5 years; and 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 with a detrimental impact on the efficient functioning of the market and the achievement of the national gas objective, including, but not limited to, significant barriers to entry; and the effect of bilateral trading agreements on the efficient functioning of the market; and structural features of the covered gas industry that generate 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 pipeline capacity; and trends in demand for covered gases; and trends in the uptake of alternative sources of energy. The AER must publish a monitoring report on its website. Before publishing a monitoring report the AER must consult with relevant stakeholders. Despite subsection (3) (a) , a report prepared within the 5 years after the commencement of this section must relate to the period commencing on the day this section commences. s 30AC ins 2024 No. 12 (SA) s 15 (sec.30AC-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 wholesale gas markets; and the operation and effect on wholesale gas markets of financial risk management products; and whether the availability of financial risk management products has an effect on competition within, and the efficient functioning of, wholesale gas markets; and bilateral trading agreements, including their effect on wholesale gas markets; in connection with paragraph (a) —to identify and analyse whether, for a particular wholesale gas 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, the extent of the inefficiency; and there are features of the market that may be impacting detrimentally on the achievement of the national gas objective; and bilateral trading agreements have an impact on the efficient functioning of the market; other monitoring or analysing functions, conferred on the AER by the Rules, relating to the following matters within a wholesale gas market: offers; prices, including forecast and actual prices and bidding. (sec.30AC-ssec.2) The AER wholesale market reporting functions are as follows: to prepare, at least once every 2 years, a report on the performance of the AER wholesale market monitoring functions (a monitoring report ); 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— whether the results identify a need for a legislative, regulatory or other response to address systemic or other features of a wholesale gas market that may— be detrimental to effective competition within the market; or detrimentally impact on the efficient functioning of the market; and limitations on the AER’s ability to communicate with relevant persons about the performance of the AER wholesale market monitoring functions; other reporting requirements, conferred on the AER by the Rules, relating to the AER wholesale market monitoring functions. (sec.30AC-ssec.3) A monitoring report must, for a wholesale gas market monitored during the period to which the report relates— be for a monitoring period of at least 5 years; and 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 with a detrimental impact on the efficient functioning of the market and the achievement of the national gas objective, including, but not limited to, significant barriers to entry; and the effect of bilateral trading agreements on the efficient functioning of the market; and structural features of the covered gas industry that generate 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 pipeline capacity; and trends in demand for covered gases; and trends in the uptake of alternative sources of energy. (sec.30AC-ssec.4) The AER must publish a monitoring report on its website. (sec.30AC-ssec.5) Before publishing a monitoring report the AER must consult with relevant stakeholders. (sec.30AC-ssec.6) Despite subsection (3) (a) , a report prepared within the 5 years after the commencement of this section must relate to the period commencing on the day this section commences.