The Economic Regulation Authority (ERA) is responsible for compliance and enforcement functions in the Wholesale Electricity Market (WEM) in WA under chapter 2.13 of the WEM Rules.
ERA’s Monitoring Protocol WEM Procedure states the processes followed in ERA’s monitoring and compliance activities and is required by clause 2.15.1 of the WEM Rules.
On 8 August 2024 Energy Policy WA (EPWA) published the Exposure Draft for amending WEM Rules under FCESS Cost Review (Exposure Draft).
EPWA’s Exposure Draft proposes amendments to the Wholesale Electricity Market (WEM) Rules which will affect ERA’s monitoring and compliance functions.
Proposed changes to the Monitoring Protocol WEM Procedure include refining wording in some sections of the Monitoring Protocol and clarifying the risk assessment processes referred to in section 2.1, 4.5 and Appendix 1.
The ERA commenced the Procedure Change Process as specified in the WEM Rules (Chapter 2.10) to update the Monitoring Protocol.
On 5 September 2024, the ERA released the draft Monitoring Protocol WEM Procedure with a Procedure Change Proposal, detailing ERA’s proposed changes and the rationale behind them. The ERA sought stakeholder feedback by 3 October 2024. The ERA received two submissions.
On 29 October 2024, the Minister for Energy approved the WEM Amendment (FCESS Cost Review) Rules (Amending Rules).
On 4 November 2024, the ERA published a Procedure Change Report and Monitoring Protocol WEM Procedure (version 7).