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Amending the Australian Energy Regulator Wholesale Market Monitoring and Reporting Framework – Consultation Paper

Publication date

Consultation opened: 9am Monday 1 August 2022

Consultation closes: COB Thursday 25 August 2022

Following recent events in the energy market, Energy Ministers agreed at the meeting of 8 June 2022 to:

‘consider additional legislative reform options to enable new gas and electricity contract market monitoring powers as an immediate priority, for introduction into the South Australian Parliament to ensure the AER has the full information and visibility it needs.’

In responding to this request, this paper sets out the rationale for, and seeks feedback on, a broad policy position on possible reforms to the existing wholesale market monitoring and reporting (WMM) functions of the Australian Energy Regulator (AER) as currently set out in the National Electricity Law (NEL).

In short, this paper seeks paper stakeholder feedback on:

  • amending limitations on the exercise of the AER’s functions imposed by s 18D of the NEL
  • expanding the scope of the NEL WMM functions to contract markets
  • adapting this updated NEL model to gas markets through the National Gas Law (NGL).

It is anticipated these reforms will:

  • assist market bodies in understanding and managing the operation of the gas and electricity markets
  • facilitate market participants in supporting an open, competitive energy market
  • help energy consumers by providing additional price transparency.

Privacy collection statement

In this consultation we may collect personal information about you. Please review the privacy collection statement.

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).

For more information, please refer to our department’s Privacy Policy or Converlens’ Privacy Policy.

Confidentiality

It is expected that submissions to this consultation will be made publicly available, however, if you would prefer your submission to remain confidential, please advise in the covering email or letter that the submission is to be treated as confidential. Stakeholders are strongly encouraged to use the response template.

Categories

Energy Ministers priority issue

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