Amending the Australian Energy Regulator Wholesale Market Monitoring and Reporting Framework – draft legislation and consultation paper
On 24 February 2023, the Energy and Climate Change Ministerial Council (ECMC) agreed to expedite a package of carefully designed measures expanding the Australian Energy Regulator's (AER) gas and electricity market monitoring powers, an essential function for a well-regulated and stable east-coast electricity market, with a view to passing this legislation as soon as feasible.
These reforms are imperative for the AER to effectively monitor and proactively identify challenges in the energy market. The AER is currently limited in its ability to assess competition in the wholesale energy markets due to:
restrictions around obtaining and using information
a lack of visibility over electricity contract markets
the lack of a comprehensive gas market monitoring role.
The proposed changes to the National Electricity Law (NEL) and National Gas Law (NGL) aim to:
remove provisions that currently limit the AER’s ability to effectively fulfil its electricity wholesale market monitoring function
empower the AER to monitor contract markets
create an explicit wholesale market monitoring function for gas
create additional requirements for the AER in connection with its extended wholesale market monitoring powers.
Process and timeframes
Officials are seeking views on the draft Bill (PDF 190 KB) and the issues outlined in the consultation paper (PDF 1.15 MB). Stakeholders are encouraged to make a submission by 5pm (AEST) Thursday 4 May 2023 via email to WMMR@dcceew.gov.au.
In making submissions, we encourage stakeholders to respond to the consultation questions set out in this paper. You do not have to answer all the questions. You are welcome to focus on those issues of particular interest to you.
An online stakeholder workshop will be held on Wednesday 19 April 2023. You may register for the stakeholder workshop by emailing WMMR@dcceew.gov.au.
Should you have any further questions on issues outlined in the draft Bill or the consultation paper please email WMMR@dcceew.gov.au.
Privacy and submissions
Your submission may contain personal information which is protected by law, including the Privacy Act 1988 (Cth). Please read this privacy notice before submitting your response.
Personal information being collected
Personal information means information or an opinion about an identified individual, or an individual who is reasonably identifiable, whether or not it is true or recorded in a material form.
By submitting a response to the consultation paper Amending the Australian Energy Regulator wholesale market monitoring and reporting framework, you consent to the department collecting any personal information provided in your submission. This may include your name, address, email and telephone number. You also consent to the department collecting information or your opinions about the National Energy Laws Amendment (Wholesale Market Monitoring) Bill 2023 (draft Bill).
Purposes for which we collect and use your personal information
The department collects your personal information so we can:
identify relevant stakeholders and their industry
contact you about your submission, including for further information or feedback
inform you about the outcomes of this consultation process and/or other matters that we consider may be relevant to you as an industry stakeholder.
The department may use your submission (including any personal information) for the purpose of:
briefing ministers and making decisions on proposed reform to the amend the Australian Energy Regulator wholesale market monitoring and reporting framework and the draft Bill, and progressing these through the administrative and legislative process
undertaking further consultation on amending the Australian Energy Regulator wholesale market monitoring framework
preparing for the proposed reforms, including by providing information to energy market bodies and other key stakeholders to inform operationalisation of the proposed reforms, and for related purposes.
Publication and disclosure of submissions
We will publish your full submission on the department’s website unless you expressly ask us not to. This includes any personal or business information contained in it. Published submissions will be accessible online and by overseas recipients. You can also claim confidentiality over part of your submission by expressly indicating this/marking up in the relevant part of the submission.
The department reserves its right to edit and/or not consider or publish submissions that contain potentially offensive, defamatory or irrelevant material.
Submissions marked as confidential will be disclosed on a confidential basis for the above purposes:
to Commonwealth, state and territory government entities, ministers and their delegates
to energy market bodies, including the Australian Energy Market Commission (AEMC), the Australian Energy Market Operator (AEMO) and the Australian Energy Regulator (AER), unless you ask us not to in your cover email or in the submission itself
as required or authorised by law.
You can provide an anonymous submission. However, this means we cannot contact you about your submission, the consultation process, or other matters relevant to you as an industry stakeholder.
Personal information of other individuals
If you are making a submission on behalf of another person, or your submission contains someone else’s personal information, you must have their consent. If you do not have consent, please de-identify or remove the personal information before lodging your submission.
Our department is bound by the Australian Privacy Principles in Schedule 1 of the Privacy Act 1988 (Cth). The Privacy Act regulates how we may collect, use, disclose and store personal information. We also hold personal information in accordance with the Archives Act 1983 (Cth).
Energy and Climate Change Ministerial Council Meeting Communique 24 February 2023 (DOCX 39 KB)
Amending the Australian Energy Regulator Wholesale Market Monitoring and Reporting Framework – 1 August 2022
Energy Ministers Meeting Communique 8 June 2022 (DOCX 97 KB)