In our submission PIAC considers the purpose and scope of the review and identifies the key issues that we ask the AEMC consider in its assessment. PIAC considers it vital that the AEMC focus on the gaps and the risks associated with the current framework, and the need to take immediate steps to make it more responsive and adaptable. We note that, because the regulatory framework is so complex, it is possible that even a comprehensive analysis of the existing system may not identify all gaps and omissions where modernisation and flexibility is needed.
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