Each year, the ERA prepares a report for the Minister for Energy on how effectively the Wholesale Electricity Market is meeting its objectives of: secure and reliable supply of electricity, enabling competition and minimising the long-term costs to consumers. The report is designed to highlight important events and trends during the year to assist in monitoring and facilitating market performance.
As part of each review, the ERA seeks feedback from stakeholders through a discussion paper. The feedback we receive is considered as we prepare our report.
In addition to the annual reviews, the ERA also undertakes a triennial review to assess the extent to which the Wholesale Electricity Market objectives are being achieved. These reports are delivered to the Minister for Energy to table in Parliament. Once that occurs, we make the report available on our website after removing any commercially sensitive information.
The ERA has commenced its review of the Wholesale Electricity Market for 2017/18.
On 22 December 2018, we released a discussion paper seeking comment from interested parties on issues that will assist us to undertake the review.
The consultation period closed on Friday, 8 February 2019, the ERA received 12 submissions, one submission was confidential and has not been made public.
This report includes our triennial review on how effectively the Wholesale Electricity Market meets its objectives under the Electricity Industry Act 2004.
The report will be delivered to the Minister for Energy and tabled in Parliament before it is made publicly available on our website.