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.
The Electricity Market Review examined the structures of the electricity generation, wholesale and retail sectors within the South West Interconnected System in Western Australia and the incentives for industry participants to make efficient investments and minimise costs.
The Electricity Market Review was undertaken as follows:
- Phase 1 - an assessment of the strengths and weaknesses of the current industry structure, market institutions and regulatory arrangements, and examination of reform options to better achieve the Electricity Market Review objectives.
- Phase 2 - the detailed design of a set of selected reforms and implementation arrangements.
Review Objectives
- Reducing costs of production and supply of electricity and electricity related services, without compromising safe and reliable supply
- Reducing Government exposure to energy market risks, with a particular focus on having future generation built by the private sector without Government investment, underwriting or other financial support
- Attracting to the electricity market private-sector participants that are of a scale and capitalisation sufficient to facilitate long-term stability and investment
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