Settlement Residue Committee

Under clause 3.18.5 of the National Electricity Rules, AEMO is required to establish a Settlement Residue Committee (SRC). The functions and membership of this committee are detailed below;

For further information on these documents, please contact John Wormald, Senior Manager electricity Market Operations & Performance.

FUNCTIONS AND MEMBERSHIP

Under clause 3.18.5 of the National Electricity Rules, AEMO must establish a Settlement Residue Committee (SRC).
The functions of the SRC are defined in this clause to be:

1. approve any suspension, or removal of a suspension, imposed by AEMO on the conducting of auctions;
2. approve proposed amendments to the auction rules developed by AEMO;
3. monitor, review and report on the auctions conducted by AEMO under this clause 3.18; and
4. approve the costs and expenses incurred by AEMO in conducting auctions under this clause 3.18 and in entering into and administrating auction participation agreements and SRD agreements under this clause 3.18.
   

The membership of the SRC will comprise:

1. an employee AEMO appointed by AEMO, who will act as chairman of the committee;
2. a person representing Generators;
3. a person representing Market Customers;
4. a person representing Transmission Network Service Providers;
5. a person representing Traders;
6. a person appointed jointly by the relevant Ministers of the participating jurisdictions; and
7. a person appointed by AEMC to represent end use customers of electricity.
   

GROUP MEMBERSHIP

Group membership as at 27 April 2010

Dated: 27 April 2010