Last week, the Energy and Climate Change Ministerial Council (ECMC) published the final report together with its response to the review of AEMO’s governance arrangements.
Announced in February and led by independent reviewer, Mr Nigel Ray PSM, the report includes 14 recommendations informed by consultation and input from key stakeholders, including AEMO’s submission.
The review has provided an important opportunity to ensure AEMO’s governance remains fit for purpose and is in alignment with our core roles and responsibilities as the markets and systems operator and system planner.
AEMO has initiated a program of work to address the common themes identified through the review, including the need for AEMO to operate more prudently and efficiently, to strengthen financial transparency and cost management, enhance financial reporting and improve stakeholder engagement.
This program will help to ensure AEMO has the governance settings, processes and capabilities required to support its critical roles, while continuing to adapt to the evolving needs of Australia’s energy systems and markets.
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