The Australian Competition and Consumer Commission today received the Code of Conduct (the Code) for the proposed new National Electricity Market (NEM). The Code was presented to Professor Allan Fels, Chairman of the ACCC, by Mr John Landells, Chairman of the National Grid Management Council, Mr John McMurtrie, Executive Chairman of the National Electricity Code Administrator company and Mr Olaf ODuill, Chairman of the National Electricity Market Management Company.

The Code was accompanied by a draft submission and a draft application for authorisation of the market arrangements and acceptance as an access code. However, the NGMC have requested that the draft submission and draft application not be publicly released at this stage. The Commission understands that the application and submission will be formally submitted in November. Once the formal application and submission are lodged, they will be released for public comment and the Commission will commence its public consultative process.

Professor Fels said that the finalisation of the Code was a welcome step in the development of the National Electricity Market. The Code covers all aspects of the NEM, including market operation rules, system security, network connection, network pricing, metering, dispute resolution, monitoring of compliance and reporting, and will provide for transitional arrangements for jurisdictions to move to a fully competitive national market.

Professor Fels said that the Commission will invite interested parties to comment and make submissions to the ACCC once we have received the formal applications and submissions from the NGMC.

Copies of the Code may be obtained from Cathy Loschiavo at Burson-Marsteller (03) 9242 9476 or from ACCC offices or electronically from or