NEM financial market resilience: first interim report

This submission responds to the Australian Energy Market Commission’s (AEMC) first interim report on National Energy Market (NEM) financial market resilience. The submission addresses the AEMC’s consideration of a special administration regime to replace the Retailer of Last Resort (RoLR) Scheme in circumstances where the financial distress of a large retailer could produce financial risks across the NEM. PIAC requests that the AEMC work with the Australian Energy Regulator (AER) to ensure that the retailer authorisation is revoked where the failure of an energy retailer is dealt with by a special administration regime—rather than a RoLR process.