South Australian Numbered Acts South Australian Numbered Acts9—Insertion of Chapter 2 Part 6 Division 2A
Chapter 2 Part 6—after Division 2 insert:
Division 2A—Short term trading markets
Subdivision 1—Preliminary
91BRA—Application of this Division
(1) This Division
applies to, and in relation to, a participating jurisdiction if (and only if)
the application Act of that jurisdiction, or an instrument made under that
Act, declares that it does so apply.
(2) A rule or other
form of subordinate legislation made for the purposes of this Division applies
to and in relation to a participating jurisdiction if (and only if) this
Division applies to and in relation to that jurisdiction.
91BRB—AEMO's STTM functions
(1) AEMO's STTM
functions are as follows:
(a) to
operate and administer a short term trading market;
(b) to
make, amend or revoke Procedures governing the operation and administration of
a short term trading market.
(2) AEMO may trade in
natural gas to the extent necessary or desirable to provide market operator
services.
(3) AEMO may, subject
to the Rules, suspend a short term trading market.
Subdivision 2—Short term trading markets
91BRC—Market participation
A person participates in a short term trading market in a registrable capacity
if the person is—
(a) a
person who supplies natural gas to an STTM hub; or
(b) a
person who withdraws natural gas from an STTM hub; or
(c) a
person classified by the Rules as a participant in a short term trading
market.
91BRD—Registration required for market participation
(1) A person must not
participate in a short term trading market in a registrable capacity unless
registered (or exempted from registration) in accordance with the Rules.
(2) A person who
participates in a short term trading market in 2 or more registrable
capacities must be registered (or exempted from registration) in both or all
those capacities.
(3) For performing
statutory functions, AEMO is not required to be registered.
91BRE—Certificates of registration etc
(1) A certificate
signed by an authorised officer certifying that a person named in the
certificate is registered, or exempted from registration, is evidence of the
registration or exemption.
(2) For this section,
an "authorised officer" is AEMO’s CEO or a person authorised by the CEO
to issue certificates under this section.
91BRF—Title to gas
An STTM trading participant must not supply natural gas to an STTM hub
unless—
(a) the
participant has title to the gas, or authority to dispose of title to the gas;
and
(b) the
gas will, at the point of supply, be free from any mortgage, charge or
encumbrance.
91BRG—Gas supplied to STTM hub must meet quality specifications
specified in the Rules
An STTM trading participant must not supply natural gas to an STTM hub that
does not comply with the gas quality specifications specified in the Rules for
that STTM hub.
Subdivision 3—STTM Procedures
91BRH—STTM Procedures
AEMO may, in accordance with the Rules, make STTM Procedures.
91BRI—Nature of STTM Procedures
(1) STTM Procedures
are a form of statutory instrument directed at the regulation of a short term
trading market.
(2) The STTM
Procedures may deal with the following matters:
(a) the
matters specified by the Rules;
(b) any
other matter relevant to a short term trading market on which this Law or the
Rules contemplate the making of Procedures.
(3) The STTM
Procedures—
(a) may
vary according to the persons, times, places or circumstances to which they
are expressed to apply; and
(b) may
confer functions or powers on, or leave any matter or thing to be decided by,
AEMO; and
(c) may
confer rights or impose obligations on STTM trading participants, exempted
participants, or other persons; and
(d) may
confer power on AEMO to make or issue guidelines, tests, standards and other
documents of an administrative nature; and
(e) may
confer power on AEMO to require a person on whom a right is conferred, or an
obligation imposed, under the Procedures—
(i)
to comply with a guideline, standard or other document of
an administrative nature; or
(ii)
to conduct, or submit to, a test designed by AEMO; and
(f) may
exempt, or confer a power of exemption, from the application of the Procedures
or specified provisions of the Procedures; and
(g) may
contain provisions of a savings or transitional nature.
(4) AEMO must not,
without the consent of the MCE, make STTM Procedures that confer a right or
function, or impose an obligation, on the MCE or a Minister of a participating
jurisdiction.
(5) The STTM
Procedures cannot—
(a)
create an offence; or
(b)
provide for a criminal or civil penalty.
91BRJ—Compliance with STTM Procedures
(1) AEMO and each
person to whom the STTM Procedures are applicable must comply with those
Procedures.
(2) If AEMO has
reasonable grounds to suspect a breach of the STTM Procedures, it must, after
making such inquiries and investigation as it considers appropriate, make a
decision as to whether the breach is a material breach.
(3) If AEMO decides
the breach is material, AEMO—
(a) must
publish the decision and the reasons for it on its website; and
(b) may
direct the person suspected of the breach to rectify it or to take specified
measures to ensure future compliance (or both); and
(c) may
refer the breach to the AER.
(4) A direction by
AEMO under subsection (3)(b) must—
(a)
specify the breach; and
(b)
specify the date by which the direction is to be complied with; and
(c) be
addressed to, and given to, the person suspected of the breach.
(5) A person to whom a
direction is given under subsection (3)(b) must comply with the
direction.
(6) AEMO must give a
copy of its decision under subsection (2), its reasons for the decision
and (if relevant) any direction under subsection (3)(b) to the AER.
(7) If AEMO decides
the breach is not material, AEMO must—
(a)
publish the decision and the reasons for it on its website; and
(b) give
a copy of the decision and the reasons for it to the AER.
Note—
AEMO may provide the AER with relevant information (including protected
information) related to a suspected breach of the Procedures. (For disclosure
of protected information, see section 91GC(2)(b).)