Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search


AUS: ACCC Draft Determination on Electricity Code

AUS: ACCC Draft Determination on Electricity Code Changes

The Australian Competition and Consumer Commission has issued its draft determination for authorisation of changes to the National Electricity Code.

The code changes deal with the three separate issues of:

market operations for the Y2K period;

the regulatory test for new network investments; and

deferring compensation payments for system security directions.

"The ACCC has largely accepted the code changes as proposed by the National Electricity Code Administrator," the ACCC Deputy Chairman, Mr Allan Asher, said today.

The Y2K code changes will set a ceiling price of $300/MWh and a floor price of $0/MWh for the electricity spot market. The ceiling and floor prices are to be in place for three days, beginning on 31 December 1999, but the National Electricity Code Administrator (NECA) can extend the period for a further seven days.

"In response to the concerns of electricity market participants, the ACCC has imposed a draft condition requiring NECA to publish the criteria it will use to decide whether the price constraints will last for three days or will be extended for a further seven days," Mr Asher said.

The code changes would also change the criteria used to assess the merits of investments in the regulated electricity networks. The code change would replace the existing customer benefits test with a regulatory test to be determined by the ACCC. The ACCC has also published a revised draft of this regulatory test.

© Scoop Media

World Headlines


Euro-Med Monitor: Sudan Military Coup Shatters Democratic Path, Threatens With Authoritarian Rule Return
The Sudanese army's seizure of power in the country diminishes the hard-won human rights and civil gains achieved after the December 2018 protests, Euro-Mediterranean Human Rights Monitor said today in a statement...More>>

Weather: Pacific Likely To Experience Double Dip La Niña Episode

The Pacific is likely to experience a rare occurrence of what is called a double dip La Niña in the coming months, Climate models and predictions tools used by Pacific National Meteorological and Hydrological services (NMHSs) show...

CNS: Will India's 1 Billion Vaccination-dose-milestone Be Catalytic For Vaccinating All?

On 21 October 2021, India crossed its milestone of administering over 1 billion (100 crores) doses within 278 days since it began the vaccination rollout (on 16th January 2021)... More>>

Focus On: UN SDGs

Climate: ‘Vague’ Net Zero Promises Not Enough: Planet Still On Track For Catastrophic Heating, UN Report Warns

New and updated commitments made ahead of the pivotal climate conference COP26 in the past months are a positive step forward, but the world remains on track for a dangerous global temperature rise of at least 2.7°C this century even if fully met, a new report by the UN Environment Programme (UNEP) has warned... More>>

Pacific: Young Climate Leaders Call For Urgent Climate Action Ahead Of COP26

Eight Pacific Young Climate Leaders shared their experiences of climate resilience and activism in an inaugural dialogue with the Pacific Islands Forum Secretary General, Mr Henry Puna on 21 October 2021... More>>

UN: With Clock Ticking, Sustainable Transport Key To Global Goals
From electric cars and buses to zero-carbon producing energy sources, new and emerging technologies along with innovative policy changes, are critical for combating climate change. But to be effective, they must ensure that transport strategies benefit everyone, including the poorest... More>>