Settlement residue committee

Under clause 3.18.5 of the National Electricity Rules, AEMO must establish a Settlement Residue Committee (SRC).

The functions of the SRC are defined in this clause to be:

• Approve any suspension, or removal of a suspension, imposed by AEMO on the conducting of auctions.
• Approve proposed amendments to the auction rules developed by AEMO.
• Monitor, review and report on the auctions conducted by AEMO under this clause 3.18.
• Approve the costs and expenses incurred by AEMO in conducting auctions under this clause 3.18
  and in entering into and administrating auction participation agreements and settlements residue distribution (SRD) agreements under this clause 3.18.

The clause says membership of the SRC will comprise:

• An employee of AEMO, appointed by AEMO, who will act as chair of the committee.
• A person representing Generators.
• A person representing Market Customers.
• A person representing Transmission Network Service Providers (TNSPs).
• A person representing Traders.
• A person appointed jointly by the relevant Ministers of the participating jurisdictions.
• A person appointed by AEMC to represent end-use customers of electricity.

Terms of Reference

• Settlement Residue Committee Terms of Reference (327 KB, pdf)

Group membership

Group membership as at 7 May 2021 is: