Gas Supply Hub Exchange Agreement Amendment – End of Day Benchmark Price – Consultation Decision
AEMO has completed its consultation on the Gas Supply Hub End of Day Benchmark Price.
AEMO proposed changes to the Exchange Agreement to implement the new clause 10.3(c) and new clause 10.3(d), and the Gas Supply Hub End of Day Benchmark Price Methodology are to be effective from 13 April 2015.
The changes will be incorporated in version 2.0 of the Exchange Agreement by including the new clauses 10.3(c) and 10.3(d):
(c) Without limiting clause 10.3(b), the information referred to in this clause may include a benchmark price or prices in respect of any Product.
(d) If the Operator publishes a benchmark price, it must determine that price in accordance with a methodology established and amended by the Operator after consultation with Market Participants, and the Operator must publish that methodology on its website.
As required by the Gas Supply Exchange Agreement clause 3.3(d) (iv), AEMO informs Participants that version 2.0 of the Gas Supply Exchange Agreement will be effective from 13 April 2015.
Notice of Consultation
AEMO gives notice of consultation on proposed changes to the Gas Supply Hub Exchange Agreement (EA) under clause 3.3 of the EA.
This notice of consultation is dated 12 January 2015.
Gas Supply Hub Members and other interested persons are invited to submit written comments on the proposed changes to AEMO by 5.00pm (Melbourne time) on Wednesday 11 February 2015.
Proposed EA changes
The proposed amendment of Exchange Agreement and related GSH documentation is to allow for:
- the publishing of a Benchmark price by AEMO, and,
- the process for the development and amendment of the methodology for calculating the Benchmark price.
AEMO has published an Impact and Implementation Report (IIR) below, which details the proposed changes to the EA. Also published is a change marked version of the EA.