GMRG submitted its final recommendations to the COAG Energy Board regarding the design of the capacity exchange platform, standardization reforms, the Secondary Trade Reporting Notification Framework and the auction in the second half of 2017. The Energy Council unanimously approved the GMRG`s final recommendations: the proposed dates for comparison residues for 2020 and 2021 are presented below. An AAE is a long-term agreement between a generator and a buyer (retailer or consumer) for the sale and supply of energy. Wind and solar farms often use PPAs. This is typically the wind or solar farm, which sells renewable energy certificates to the buyer at a fixed price. The AER and AEMO have both the role of implementation and operation. AEMO is responsible for the implementation and operation of the trading platform and day-ahead auctions. For more information on AEMO`s role, please visit the AEMO website. Any interim authorization has been subject to conditions requiring industry participants to continue to meet reporting obligations for other LNG facilities and the obligation to terminate or revoke all agreements entered into as part of the authorization upon expiry of the authorization. These conditions are also defined in the final provision. The Capacity Trade Reform Package was recommended by the Australian Energy Market Commission (AEMC) as part of the East Australian Wholesale Gas Market and Pipelines Framework Review and approved by the CoAG Energy Council at its August 2016 meeting.

Reforms for transport pipelines and compaction services (called „transportation services“) include the development of: Capacity trade reforms aim to foster the development of a more liquid market for secondary gas transport capabilities, thereby improving the efficiency of transport and use capabilities of gas transmission facilities. The reforms apply to pipelines and the four designated compressors and include a secondary capacity trading platform and an auction date for contract but non-designated capabilities. A generator responsible for delivering certain amounts of electricity can result in significant losses if its production is unreliable, as it may be forced to purchase electricity when supply conditions are limited and spot prices are high. On March 30, 2020, the Australian Energy Market Operator (AEMO) filed, on behalf of his person, AEMO industry participants and other industry players, apply for authorization, including an emergency authorization application, to allow these organizations to discuss, accept or commit conduct that has a purpose: for example, after the announcement of the closure of a large power plant, the delivery of orders may be reduced, which would increase the price of contracts. These high prices encourage the creation of a new generation or demand response capacity that will fill the supply gap. Unlike financial derivatives contracts, ASAs reward the seller for producing as much electricity as possible at all times. There is no incentive for the seller to produce more or less electricity when the electricity grid needs it – that is, when spot prices are high or low. In each of the five NEM regions, spot prices are different. In the year to June 2018, spot prices averaged between $73 (Queensland) and $98 (South Australia) per megawatt hour (MWh), or 7.3c/kWh and 9.8c/kWh.

The spot market is the mechanism used by AEMO to compare the electricity supply of power plants with the real-time consumption of households and businesses.