The ERA has developed two guidelines to assist market participants to understand and comply with the general trading obligations in the new Wholesale Electricity Market (WEM). Visit Energy Policy WA for more information on the commencement of the new WEM.
The ERA published a draft offer construction guideline and draft trading conduct guideline for consultation on 21 June 2023. Both guidelines have been updated to address submissions received during the consultation period. The ERA’s response to stakeholder feedback and an overview of changes made is included in the final report, published below.
The offer construction guideline sets out:
- The ERA's approach to offer assessment, including how the ERA expects a market participant to construct its offers.
- Examples of offers that would likely contravene the offer construction obligations in the WEM Rules.
- The record keeping requirements for market participants.
The trading conduct guideline outlines how market participants can avoid conduct prohibited by the general trading obligations, which apply to all participants in the short term energy market and the real time market, including the frequency co-optimised essential system services markets.
The offer construction guideline and trading conduct guideline are required by clause 2.16D.1 of the WEM Rules consolidated companion version (22 July 2023) and are intended to take effect from the commencement of the new WEM on 1 October 2023.
The public consultation period on the draft guidelines closed on 18 July 2023. Submissions received are published below.
Guidelines effective October 2023
Consultation June 2023
Consultation June 2023 - Public Submissions
Consultation December 2022
Consultation December 2022 - Public submissions
