AER: discussion paper on new approach to monitoring wholesale electricity markets (submissions by 13 October 2017)
The AER is undertaking the first comprehensive assessment of Australia’s wholesale electricity markets to determine whether competition is effective during a period of rising wholesale prices and rapidly evolving generation mix.
The expanded wholesale market monitoring, introduced by COAG Energy Council amendments to the National Electricity Law, will form the basis of AER advice on wholesale market issues to the COAG Energy Council, relevant stakeholders and other market bodies.
The AER is seeking feedback from industry and other stakeholders on the development of a practical and systematic approach to assessing wholesale market performance.
The discussion paper outlines options for defining effective competition and efficiency, products and markets that should be considered, and the most relevant framework to assess market structure, participant conduct and market performance.
A public forum will be held in Melbourne on 6 October, with submissions closing on 13 October. The AER proposes to release a draft approach in November, with further opportunities for feedback prior to finalising the approach in February 2018.