Every five years, the Wholesale Electricity Market rules require the ERA to review the method and market procedure for setting the Benchmark Reserve Capacity Price and the Energy Price Limits.
Following its review the ERA must prepare a report on our findings for the Minister for Energy. If we recommend changes to the method as a result of the review then we must either submit a Rule Change Proposal or initiate a Procedure Change Process to implement those changes.
When preparing for our next review, we have identified a considerable overlap between the scope of the ERA’s review and the State Government’s program to reform how electricity is supplied in the South West Interconnected System.
We have therefore decided to suspend our review of the methods used to determine the Benchmark Reserve Capacity Price and the Energy Price Limits. However, we have chosen to continue with our review of the market procedure used for calculating the Benchmark Reserve Capacity Price each year.
The ERA will publish an issues paper for interested parties to have input into the review of the market procedure.
