Since this web page was published, the Wholesale Electricity Market (WEM) Rules have been renamed the Electricity System and Market (ESM) Rules, and the Electricity Industry (Wholesale Electricity Market) Regulations 2004 (WEM Regulations) have been renamed the Electricity Industry (Electricity System and Market) Regulations 2004 (ESM Regulations). Changes have not been made to this web page to reflect this updated name.
Review Outcome 9 of the Reserve Capacity Mechanism (RCM) Review provided for the introduction of a requirement for the Coordinator of Energy (Coordinator) to review the Benchmark Reserve Capacity Price (BRCP) reference technologies.
The Wholesale Electricity Market (WEM) Rules require the Economic Regulation Authority (ERA) to review the WEM Procedure for determining the BRCP at least once every five years.
In addition, the WEM Amending Rules implementing the outcomes of the RCM Review will require the ERA to review the BRCP methodology within one year of the Coordinator changing the BRCP reference technology.
The BRCP Reference Technology Review was therefore required to be conducted to set the reference technologies before the ERA reviews the BRCP methodology.
The Market Advisory Committee (MAC) established the Benchmark Reserve Capacity Price (BRCP) WEM Procedure Review Working Group (BRCPPWG) to support the ERA’s review.
The ERA will provide secretariat support for the Working Group and can be contacted at Market.Monitoring@erawa.com.au
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