From 24 November 2020 to 18 January 2021, we sought stakeholders’ views on the merits of introducing a permanent mandatory market-making backstop into the Electricity Industry Participation Code (2010).
We released a decision paper on this consultation on 30 March 2021.
Hedge market enhancements permanent market-making backstop - decision paper
We decided to amend the Code to include provisions for a permanent mandatory market making backstop.
The amendment provides for a dormant scheme that would only be triggered into effect for one or more market makers, if the performance standards set out in the Code amendment are not met.
Hedge market enhancements permanent market-making backstop - consultation paper
We proposed to amend the Code to secure better data about participants’ activity on exchange platforms (like the ASX), reduce compliance costs for industry participants, and reduce administration costs for the Electricity Authority.