The Minister for Energy has made new Wholesale Electricity Market (WEM) Rules to implement fundamental changes to the design of the market, to commence from 1 October 2022.
The comprehensive improvements to the WEM represent another major milestone in the delivery of the State Government’s Energy Transformation Strategy. It leverages the existing WEM design to facilitate entry of low cost, renewable technologies whilst maintaining the reliability and security of the power system.
The new WEM will ensure the power system is able to accommodate the energy transition including growth in large-scale intermittent renewable generation, energy storage, and customer-owned distributed energy resources such as rooftop solar.
The new WEM design has been informed by extensive industry consultation by the Energy Transformation Taskforce over the last 18 months, with over 30 public forums held and 20 information papers published.
ERA Website: Tranche 2 and 3 WEM Amending Rules