Cash Security Changes to NEM Registration Forms

Consultation process

Key contact

Email: [email protected]

Matters under consultation

AEMO is implementing the Cash as Credit Support (Cash Security) reform following the Australian Energy Market Commission’s final determination, made on 26 June 2025.

The final rule, effective 1 November 2026, allows NEM Market Participants to provide cash as a form of credit support, up to a limit of $20 million (known as the Cash Security Limit), indexed yearly against CPI.

AEMO is now conducting a single round consultation on proposed changes to be made to AEMO’s NEM registration application forms. Corresponding registration application guides, where available, will also be updated to incorporate these proposed changes.

AEMO invites stakeholders to provide feedback on the proposed changes by emailing [email protected] no later than 5pm AEST on 18 September 2026.

Scope

The focus of this consultation is proposed amendments to AEMO’s NEM registration application forms to:

• Reflect changes to be made with effect from 1 November 2026 by the National Electricity Amendment (Allowing AEMO to accept cash as credit support) Rule 2025, such as:
  • Updates to reflect Cash Security as a form of credit support other than bank guarantees for registering applicants
• Ensure a smooth Cash Security provision process during registration and timely settlement under a shortened NEM settlement cycle by:
  • Requiring relevant new registering applicants, from 1 November 2026, to complete an Austraclear dollar test with AEMO prior to AEMO making an application decision

AEMO is only consulting on the proposed amendments, not the entire documents.