Section 10 Electricity Act 2023
Section 10 of the Electricity Act 2023 is about Market rules and grid code. It is under Part III (Development of a Competitive National Electricity Market) of the Act.
(1) There shall be market rules and grid code as developed by the system operator and approved by the Commission for the —
(a) operation of the national grid by the system operator; and
(b) establishment and governance of markets related to electricity and ancillary services.
(2) In respect of markets for electricity and ancillary services, the market rules may include provisions —
(a) governing the maxing and publication of market rules;
(b) settlement of payments among different participants;
(c) authorising and governing the making of order by the system. operator, including orders -—
(i) imposing financial penalty on market participants,
(ii) authorising a person to participate in the market, or
(iii) terminating, suspending or restricting a person’s rights to participate in the market; and
(d) concerning the administration and enforcement of the market rules, including provisions for market rules amendments, dispute resolution, penalties, and market surveillance.
(3) A market rule may be general or particular in its application.
(4) Amendments to the market rules shall be developed by the system operator in accordance with the amendment provisions in the market rules:
Provided that all amendments to the rules shall be approved by the Commission before they come into effect, and the system operator shall, in accordance with the market rules, publish any proposed amendment to the market rules at least 22 days before the proposed amendment comes into effect.
(5) Notwithstanding the provisions subsection (1), and of section 9 (2) of this Act, the Commission shall have the powers to suspend or forebear the application of any provision of the market rules or proposed amendment to the market rules to meet the exigencies of the market or operation of the transmission system for the NESI.
