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 completed its review of the Wholesale Electricity Market for 2017/18. This report includes our triennial review on how effectively the Wholesale Electricity Market meets its objectives under the Electricity Industry Act 2004.
On 22 December, we released a discussion paper seeking comment from interested parties. The consultation period closed on Friday, 8 February 2019. The ERA received 12 submissions, one submission was confidential and has not been made public. Stakeholder comments informed the ERA’s review.
The report was delivered to the Minister for Energy on 3 April 2019 and tabled in Parliament on 11 April 2019.