Aemo Exchange Agreement

The hub will establish standardised conditions as part of an exchange agreement developed by the operators. AEMO informs all members of the Gas Supply Hub Exchange and other interested parties that it has decided to make the proposed changes to the Gas Supply Hub Exchange Agreement. Version 10.0 of the Gas Supply Hub Exchange Agreement will come into effect on March 15, 2018. AEMO publishes in each region a half-hour spot pool price for electricity, based on a system of gross merit-merit order orders. All retailers and market customers purchase their electricity from the spot pool market in their respective region and pay the spot price to AEMO (i.e. the spot price determines the retailer`s delivery costs). All generators who supply electricity to the regional pool market during this period receive from AEMO the spot market price (i.e. the spot price that determines the generator`s turnover). Free real-time spot market data is available at www.aemo.com.au. The Australian energy regulator`s annual State of the Energy Market Report ™, available from www.aer.gov.au, provides a more detailed overview of the Australian physical and financial electricity market. The price of the spot pool ranges from $-1,000/MWh to +$13,800/MWh, so retailers and generators protect this variable price risk by ensuring a fixed rate of electricity prices by buying or selling derivative contracts (differential contracts). The Australian energy market operator`s (AEMO) new gas trading exchange is expected to be broadcast live on 20 March 2014. The gas trading exchange is the first step in the development of a gas supply centre focused on Wallumbilla in Queensland.

As noted in the consultation release, written comments on the proposed amendments are requested by Thursday, January 11 at 5 p.m. (EST). Consultation responses can be submitted directly to the AEMO under Hub_Reference@aemo.com.au. Any provisional authorisation was subject to conditions which remained mandatory for the reporting obligation, an obligation for operators in the sector, the reporting obligations for LNG installations that have been the subject of other authorisations and the obligation that all agreements concluded under the authorisation terminate on the expiry or revocation of the authorisation. . . . .

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