Generator Performance Standards Information Booklet August 2013 Background include audits, the imposition of reporting requirements, market monitoring and targeted compliance reviews. The Australian Energy Regulator (AER) is responsible for monitoring compliance and Consistent with our , we aim to promote high enforcement under legislation and rules governing levels of compliance, and seek to build a culture Australia’s wholesale energy markets, including of compliance in the energy industry. A those applying to Network Service Providers compliance culture will: (NSP). Section 15 of the National Electricity Law and section 27 of the National Gas Law set out reduce the risk of industry participants the functions and powers of the AER, including: breaching their regulatory obligations monitoring compliance by energy industry ensure industry participants can engage participants and other persons confidently in commercial decisions and negotiations. investigating breaches, or possible breaches, of provisions of the legislative instruments In the event of a breach, we will take into account under the AER’s jurisdiction. the participant’s compliance framework when determining what action to take. In assessing We undertake a continuous compliance risk compliance culture, we consider whether assessment of the National Electricity Rules compliance programs and related processes are (Electricity Rules) and National Gas Rules (Gas effectively applied, Rules) to identify appropriate focus areas and up-to-date and tested regularly. monitoring mechanisms. These mechanisms
Generator Performance Standards Information Booklet August 2013 Background The Australian Energy Regulator (AER) is responsible for monitoring compliance and enforcement under legislation and rules governing Australia’s wholesale energy markets, including those applying to Network Service Providers (NSP). Section 15 of the National Electricity Law and section 27 of the National Gas Law set out the functions and powers of the AER, including: monitoring compliance by energy industry participants and other persons investigating breaches, or possible breaches, of provisions of the legislative instruments under the AER’s jurisdiction. We undertake a continuous compliance risk assessment of the National Electricity Rules (Electricity Rules) and National Gas Rules (Gas Rules) to identify appropriate focus areas and monitoring mechanisms. These mechanisms include audits, the imposition of reporting requirements, market monitoring and targeted compliance reviews. Consistent with our , we aim to promote high levels of compliance, and seek to build a culture of compliance in the energy industry. A compliance culture will: reduce the risk of industry participants breaching their regulatory obligations ensure industry participants can engage confidently in commercial decisions and negotiations. In the event of a breach, we will take into account the participant’s compliance framework when determining what action to take. In assessing compliance culture, we consider whether compliance programs and related processes are effectively applied, up-to-date and tested regularly.
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