PIAC supported the AEMC’s draft determination not to make a rule at this time, noting that there have recently been a number of rule changes and reforms implemented relating to system security and market operation, and a number are still in train. PIAC suggested it is appropriate to allow time to assess the effectiveness of these reforms in terms of the benefits to consumers and the costs they impose, noting that without tying back to the cost-reliability trade-off for consumers, multiple reforms on the back of each other could lead to a ratcheting up of costs for system reliability and security over and above an efficient level.
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