Good Energy Industry Performance—the overall compliance status of each participant with reference to how effectively Practice compliance programs and arrangements operate, including the ongoing evaluation and updating of ‘Good Electricity Industry Practice’ is a defined such programs and arrangements to reflect term under the Electricity Rules, and is the lessons learnt. threshold against which performance standards GEIP is the foundation of our technical audit compliance is measured. A similar definition program outlined on page 5 of this booklet. We exists under the Gas Rules. When assessing will assess participants’ compliance taking into compliance against this threshold, we have account the above criteria and those outlined in adopted the concept of ‘Good Energy Industry our . Practice’ (GEIP) to cover both electricity and gas. Generator performance We consider the key components of GEIP to include effective: standards Governance—internal arrangements encompassing reporting lines and supporting Generator performance standards (GPS) are: systems, including the level of involvement and the specific performance standards commitment of senior management and established for each registered generator in committees as well as the overall compliance accordance with clause 5.3.4.A(i) of the culture of the business. Electricity Rules, or Expertise—the human resources dedicated to included in the register of performance technical compliance including the allocation of standards established and maintained by the responsibilities, the underlying knowledge Australian Energy Market Operator (AEMO) systems and the nature and extent of the under clause 4.14(n) of the Electricity Rules. technical understanding of applicable obligations The Electricity Rules establish up to 18 separate Implementation—the means by which, at a technical requirements. Compliance with practical level, participants drive and promote performance standards is fundamental to ensure compliance through internal procedures and AEMO can safely and reliably operate the power processes, encompassing staff training, technical system. Non-compliance with certain testing and reporting of compliance matters
Good Energy Industry Practice ‘Good Electricity Industry Practice’ is a defined term under the Electricity Rules, and is the threshold against which performance standards compliance is measured. A similar definition exists under the Gas Rules. When assessing compliance against this threshold, we have adopted the concept of ‘Good Energy Industry Practice’ (GEIP) to cover both electricity and gas. We consider the key components of GEIP to include effective: Governance—internal arrangements encompassing reporting lines and supporting systems, including the level of involvement and commitment of senior management and committees as well as the overall compliance culture of the business. Expertise—the human resources dedicated to technical compliance including the allocation of responsibilities, the underlying knowledge systems and the nature and extent of the technical understanding of applicable obligations Implementation—the means by which, at a practical level, participants drive and promote compliance through internal procedures and processes, encompassing staff training, technical testing and reporting of compliance matters Performance—the overall compliance status of each participant with reference to how effectively compliance programs and arrangements operate, including the ongoing evaluation and updating of such programs and arrangements to reflect lessons learnt. GEIP is the foundation of our technical audit program outlined on page 5 of this booklet. We will assess participants’ compliance taking into account the above criteria and those outlined in our . Generator performance standards Generator performance standards (GPS) are: the specific performance standards established for each registered generator in accordance with clause 5.3.4.A(i) of the Electricity Rules, or included in the register of performance standards established and maintained by the Australian Energy Market Operator (AEMO) under clause 4.14(n) of the Electricity Rules. The Electricity Rules establish up to 18 separate technical requirements. Compliance with performance standards is fundamental to ensure AEMO can safely and reliably operate the power system. Non-compliance with certain
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