AEPC_2021_04

14/09/2021
Market Wholesale Electricity Market (WA)
StagePPC
ConvenorAEMO WEM
Initiated15/09/2021
Accepting submissions?No

Procedure Change Proposal

Wholesale Electricity Market Rules – Clause 2.10

Date of Notice: TBA

Notification of Proposed Amendments by a Rule Participant 

Wholesale Electricity Market Rules – Clause 2.10.2 and 2.10.2A

Date of Notice: 16 September 2021

This notice informs all Rule Participants and interested parties (Consulted Persons) that AEMO has considered the notification made by Change Energy under clause 2.10.2 of the WEM Rules and determined that, in accordance with clause 2.10.2A of the WEM Rules, amendments to WEM Procedure: Prudential Requirement would be appropriate. 

AEMO will initiate the Procedure Change Process by developing a Procedure Change Proposal as detailed in clause 2.10. A notice containing information of the Procedure Change Proposal will be published on the Market Web Site. 

Matter considered

On 20 August 2021 Change Energy notified AEMO that they consider an amendment the WEM Procedure: Prudential Requirement would be appropriate in accordance with clause 2.10.2 of the WEM Rules. Change Energy suggested the following requirements be considered:

  • The requirement under step 2.2.2. of the Market Procedure for AEMO to use up to 24 months of available data when determining a Market Participant’s Anticipated Maximum Exposure (AME), a key input to the Credit Limit methodology. 
  • The requirement under step 2.2.2. of the Market Procedure for AEMO to consider the AME as the sum of the 70-day maximum Non-STEM Settlement exposure and 15-day maximum STEM Settlement exposure, where these time periods are not necessarily aligned

On 16 September 2021, in accordance with clause 2.10.2A of the WEM Rules, AEMO published this notice to advise that it had considered the matters raised by Change Energy and determined that a Procedure Change Proposal will be progressed that: 

  • Considers whether amendments to the requirement under step 2.2.2. of the Market Procedure for AEMO to use up to 24 months of available data when determining a Market Participant’s Anticipated Maximum Exposure (AME), a key input to the Credit Limit methodology should be amended. 
  • Considers whether amendments to the requirement under step 2.2.2. of the Market Procedure for AEMO to consider the AME as the sum of the 70-day maximum Non-STEM Settlement exposure and 15-day maximum STEM Settlement exposure, where these time periods are not necessarily aligned should be amended.  

Next Steps

Dates are indicative only and subject to change.

Process Stage

 Indicative Date

Workshop to present the proposed changes at a conceptual level and accept feedback

 October 2021

APCWG - formal session to present the Procedure Change Proposal including marked up procedure

TBA

Publication of Procedure Change Proposal and call for submission

TBA

Closing date for submissions in response to the Procedure Change Proposal

TBA

Publication of Procedure Change Report

TBA

Proposed commencement of revised Market Procedure

TBA

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