Australian Energy Market Commission (AEMC)’s Post

Today the AEMC published its final report and recommendations for changes to the NEM compensation frameworks following the June 2022 market disruptions. It has been great to work with a small - and most excellent!- team to bring the review to a conclusion from the draft report to the final - working with Tiffany O'Keefe Gerard O’Shea. And of course, recognising also the huge contributions to this work from Tom Meares and Kate Wild who took the project to the draft stage navigating and proposing changes to 3 very different but related frameworks covering administered pricing, directions and market suspension. Check out the link below - the report includes important changes that should help to deliver greater reliability for consumers during periods of market stress. The next important step will be a rule change to implement the recommendations. And that is just about it for a very satisfying year on secondment at the AEMC - has been very enjoyable not only working on the review but also putting the APC opportunity cost compensation framework into practice earlier this year on 3 separate claims determinations. If it was a uni subject I suspect I can say I have graduated in “advanced compensation frameworks”!😂😂 Australian Energy Market Commission (AEMC)

CEIG does not support the proposed rule change allowing Australian Energy Market Operator (AEMO) to accept cash as credit support. This change would allow market participants to use cash to meet AEMO’s prudential requirements for participating in the National Electricity Market. The inability of Delta Electricity to obtain acceptable credit support due to lender ESG policies is a reflection of the broader market and regulatory transition towards clean energy investments.  Key points from CEIG's response to the Australian Energy Market Commission (AEMC)'s consultation paper: ➡ Opposition to Rule Change: CEIG believes that the current credit support requirements exist for sound reasons, with no other participants exempt. Allowing cash as credit support in response to a single participant’s challenges undermines the standards set by the current rules. ➡ Market Signal: The difficulty Delta faces in obtaining traditional credit support due to lenders’ Environmental, social, and governance (ESG) policies should be seen as a market signal, not grounds for an exemption. ➡ Impact on Emissions Goals: Supporting this rule change could compromise the emissions reduction criteria of the National Electricity Objective (NEO), diluting Australia’s energy transition efforts. ➡ Reliability Analysis: CEIG calls for further analysis of the potential reliability gap, considering upcoming renewable and storage projects, before prioritising coal-fired generation as a solution. Read our full submission: file:///C:/Users/davis/Downloads/CEIG%20Submission_Allowing%20AEMO%20to%20accept%20cash%20as%20credit%20support.pdf ********************************* 🍃Clean Energy Investor Group is proud to be the voice of Australian capital, advocating for policy that supports clean energy investment, and our nation's commitment to its climate targets 🍃

In RenewEconomy, "Generators clash over Vales Point cash demand, but small retailers say they are the real victims". https://lnkd.in/g3E87DYU An excerpt from CEIG's submission to AEMC is quoted in the article: “The current credit support rules are established for sound reasons, and no other market participants are currently exempt from these requirements." Read CEIG's full response to AEMC’s consultation paper on the rule change request to allow AEMO to accept cash as credit support here: https://lnkd.in/gCwexVzY ***************** 🍃Clean Energy Investor Group is proud to be the voice of Australian capital, advocating for policy that supports clean energy investment, and our nation's commitment to its climate targets 🍃

Is your energy bill REALLY going down? The energy cap may have decreased, but standing charges continue to rise. Out of the hands of Ofgem, businesses are left facing higher and higher bills. Take back control of your energy with Independent Energy Group. https://lnkd.in/eQJtu9_X

Cornwall Insight anticipates a rise in the energy #pricecap to £1,736 in January 2025. This persistence of high prices reflects an unstable market and exacerbates #energypoverty in the United Kingdom. L’article United Kingdom: Cornwall Insight Predicts an Increase in Energy Price Cap for January 2025 est apparu en premier sur energynews.

🔋🇬🇧 The recent report from the 𝐄𝐧𝐞𝐫𝐠𝐲 𝐂𝐫𝐢𝐬𝐢𝐬 𝐂𝐨𝐦𝐦𝐢𝐬𝐬𝐢𝐨𝐧 highlights the UK's "critical vulnerability" to future energy crises and price spikes. With a heavy reliance on gas, the nation must urgently enhance its energy resilience Key takeaways: 𝐃𝐞𝐩𝐞𝐧𝐝𝐞𝐧𝐜𝐞 𝐨𝐧 𝐆𝐚𝐬: The UK ranks as the second most gas-dependent country in Europe for heating and electricity. 𝐔𝐫𝐠𝐞𝐧𝐭 𝐍𝐞𝐞𝐝 𝐟𝐨𝐫 𝐑𝐞𝐧𝐞𝐰𝐚𝐛𝐥𝐞𝐬: Investing in home-produced renewable energy and improving energy efficiency in homes are crucial steps. 𝐒𝐮𝐩𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐕𝐮𝐥𝐧𝐞𝐫𝐚𝐛𝐥𝐞 𝐇𝐨𝐮𝐬𝐞𝐡𝐨𝐥𝐝𝐬: Targeted support schemes are essential to protect the most affected households from rising energy costs. Ed Miliband, our Energy Secretary, is committed to transforming the UK into a clean energy superpower 🌱💡 Read More:

Australia’s #energycrisis is ongoing, but with the business sector and the government actively trying to improve things, we can expect more innovation and scaling up to a transition #energyeconomy. BPH Energy #resource #investing https://bit.ly/3Y3qh55

The UK Government has launched a comprehensive review of the energy regulator, Ofgem, aiming to strengthen consumer protections and explore how the regulator can better support the Government’s clean energy agenda

In our latest #blog post, we delve into the energy market reforms implemented by the new UK Government during their initial months in office. Discover how these changes are shaping the evolution of the energy sector. Read more here:

ICYMI: Cornwall Insight anticipates a rise in the energy #pricecap to £1,736 in January 2025. This persistence of high prices reflects an unstable market and exacerbates #energypoverty in the United Kingdom. L’article United Kingdom: Cornwall Insight Predicts an Increase in Energy Price Cap for January 2025 est apparu en premier sur energynews.