The Australian Energy Market Operator (AEMO) advises under clause 3.15.21(c5) of the National Electricity Rules (NER) that an external administration default event has occurred in respect of Basslink Pty Ltd and AEMO has made a non-suspension decision in accordance with NER 3.15.21(c2).
The following registration categories and the activities (or subset of activities) of those registration categories of Basslink Pty Ltd are affected by and are the subject of the non-suspension decision with effect from 0:00 hours Eastern Standard Time on 22 June 2022:
- Market Network Service Provider
Despite the non-suspension decision, AEMO may issue a suspension notice in relation to the registration categories and activities covered by this non-suspension decision in circumstances as set out in NER 3.15.21(c6)(1) to (3).
The circumstances set out in NER (c6)(1) to (3) are:
- AEMO considers that the defaulting Market Participant has failed to satisfy any of the conditions that apply to the non-suspension decision;
- a further default event occurs in respect of the defaulting Market Participant; or
- AEMO is not satisfied that the defaulting Market Participant will meet its relevant liabilities under the Rules.