EUAA Submission: Review Into Electricity Compensation Frameworks (EPR 0095)
Emily Wood | February 1, 2024
‘… The EUAA agrees with the AEMC and AER that the current Electricity Compensation Frameworks (Frameworks) led to inefficient outcomes during the market events of June 2022, prompting generators to withdraw bids from the NEM during the Administered Price Period (APP) and subsequent Market Suspension and instead waited until AEMO Directions were given to generate. The current Frameworks are confusing and overlaps in eligibility led to multiple compensation claims for a single generator leading directly to higher administrative costs for the generators and AEMO/AEMC. The EUAA agrees that this is probably exacerbated by both the AEMC and AEMO being responsible for various components of the Frameworks….’
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