The Energy Security Board (ESB) was tasked by COAG Energy Council (the Council) with providing advice on Recommendations 1 and 41 of the Australian Competition and Consumer Commission (ACCC) Retail Electricity Pricing Inquiry – Final Report (June 2018). Two consultation papers were prepared by the ESB to inform the Council.
The National Electricity Law (NEL) should be amended to prevent any acquisition or other arrangement (other than investment in new capacity) that would result in a market participant owning, or controlling dispatch of, more than 20% of generation capacity in any NEM region or across the NEM as a whole. The provision should be designed to prevent market participants circumventing the 20% cap, including by way of ownership structure or contractual arrangements.
The AER’s wholesale market monitoring functions should be expanded and appropriately funded to include monitoring, analysing and reporting on the contract market. This should include analysing the data reported to the OTC repository (Recommendation 6), ASX data and data gathered directly from retailers and generators (including through the use of compulsory information gathering powers).
The ESB sought stakeholder views on ACCC Recommendations 1 and 41. This consultation closed on 8 March 2019.
Stakeholder submissions received in response to this consultation process are available below.