The original 4 June 2010 start date has been pushed back as the STTM has not met AEMO’s readiness criteria, which include the creation of settlement statements, the receipt of pipeline allocation data and trading participant readiness.
AEMO said that failure to meet these criteria could pose significant risks to the system.
The STTM is a transparent wholesale spot market for the trading of natural gas. The system is currently running on a trial basis and will continue to do so until 31 August 2010.
AEMO said that it has consulted with industry, including the Gas Market Leaders Group, on readiness and preferred start date.