- AEMO can confirm the current outlook indicates sufficient electricity reserves for this evening, but conditions remain dynamic, requiring AEMO to manually direct generators to be available to meet consumers’ energy needs.
- AEMO held a briefing with industry today outlining the assessment criteria and staged process needed to resume normal spot market operation in the National Electricity Market (NEM).
- These criteria will provide indicators of the operability of the market under normal dispatch and pricing rules, to give AEMO sufficient confidence that it can end the market suspension with minimal risk of the same conditions re-emerging in the very short term.
- After a series of checks and validations have been completed, AEMO’s next step will be to move to a period of monitoring normal dispatch pricing within the suspension period, after advance notice to has been issued to the market.
- AEMO anticipates monitoring will continue for at least 24 hours from then and, if AEMO is confident the criteria are being met, the next step is to formally remove the market suspension and resume normal operation under the market rules. Again, notice will be provided to the market.
- Irrespective of market operations, underlying factors mean there may continue to be challenges managing supply and demand, and AEMO continues to monitor reserve conditions across all NEM regions.
ENDS