Since 31 May 2004, the formal entity responsible for the administration of the Western Australian gas retail market scheme (scheme) has been the Retail Energy Market Company (REMCo).
On 2 September 2016 the Authority received a submission from REMCo seeking approval of the transfer of responsibility for operation of the WA gas retail market scheme from REMCo to the Australian Energy Market Operator (AEMO).
In accordance with section 11ZOM of the Energy Coordination Act 1994 (Act), the Economic Regulation Authority (Authority) has approved this amendment to the scheme, effective from 31 October 2016.
The scheme will now include AEMO, the Western Australian Retail Market Agreement and the market rules. The Western Australian Retail Market Agreement is the main agreement between gas market participants, binding all members to comply with the market rules.
The market rules include:
• the retail market procedures, governing the major interactions between gas market participants in the WA gas retail market;
• the Specification Pack, which is a suite of documents that supports the operation of the market procedures; and
• the FRC Hub Operational Terms and Conditions that govern the communication protocol within the FRC Hub, which is the information system provided by AEMO.
Transfer of operation of gas retail market scheme from REMCo to AEMO
Previous Scheme Changes