The ERA monitors the effectiveness of the wholesale electricity market in meeting the wholesale market objectives in conjunction with the Independent Market Operator (IMO). This includes:
- Inappropriate and anomalous market behaviour including the abuse of market power and exploitation of any shortcomings of the market rules.
- Market design and market structure problems.
- The effectiveness of procurement processes of ancillary and balancing support services, including ancillary service contracts and balancing support contracts.
Market participants of the wholesale electricity market (WEM) can notify the ERA or the Independent Market Operator (IMO) of any behaviour that reduces the effectiveness of the market.
A market participant should include the following information in any notification provided to the ERA:
- Date of notification;
- Party making the notification;
- The identity of the Party whom the notification is made against;
- Description of the behaviour and how it reduces the effectiveness of the wholesale electricity market (WEM);
- Date and timing of behaviour observed (if applicable); and
- Any other relevant information.