Our energy sector is continuing to evolve rapidly, with the pace of change underpinned by technological advances, new and innovative business models, and evolving consumer preferences. This transformation presents significant challenges to the continued security and reliability of supplies, but also a great opportunity to take advantage of the potential offered by digital technologies to harness customer energy devices and create a smarter and more flexible power system that is safe, secure, reliable, and sustainable.
Energy Policy WA has reviewed the legislative and governance arrangements for the energy sector to create a regulatory environment that is agile and responsive to the challenges and opportunities of the energy transformation. Our objective is to build greater resilience and flexibility in the energy sector by developing a framework that works to deliver outcomes that protect and advance the interests of energy consumers.
This project builds on recent reforms to the governance and institutional arrangements that were implemented on 1 July 2021. The need for further energy sector governance reforms was highlighted in the Energy Transformation Strategy Stage 2: 2021-2025.
The current regulatory framework that governs the electricity sector in the South West Interconnected System (SWIS) has not kept pace with the energy transformation, and is not well suited to maintaining a secure and reliable power system, or maximising the opportunities for a well-managed transition to a decarbonised energy sector.
The intent of the reforms is to address the limitations of the current legislative and governance arrangements, build on recent reforms, and enhance the flexibility and responsiveness of the power system to existing and emerging challenges.
They will facilitate fit-for-purpose regulatory solutions that promote the long-term interests of consumers and support system security and reliability.
An online forum was held on 6 December 2022 to provide stakeholders with an update on the progress of the reforms. An Information Paper which has now been released and can be accessed below.