Some of the ‘Major Reviews’ in the history of the NEM

I thought it would be useful to pull together this (incomplete) tabulated list, with links to more context within:

 

Major Review Brief Synopsis

1997

APEx Initial Study

Though not specifically about the NEM (and indeed pre-dating the NEM) it’s worth listing here the initial review I helped conduct in 1997 on behalf of the Association of Power Exchanges (APEx):

  • during which we compared the way electricity markets worked around the world; and
  • (amongst other things) identified 6 x Strategic Issues that many market operators were dealing with at the time.

I discussed this here under ‘6 enduring challenges for competitive electricity markets’ in 2011.

Readers might like to take note of how similar these Strategic Issues are to the ones we still grapple with in electricity markets, (and which are not completely resolved) nearly 30 years later.

Dec 2002

Parer Review

It was back in December 2002 that the Final Report of the Parer Review was published (and we belatedly noted that on WattClarity).

2007

ERIG

It was January 2007 that saw the final report of the ERIG Review published.

2017

Finkel Review

In response to the SA System Black Event (on 28th Sept 2016) , the Finkel Review was commissioned.

The Final Report of the Finkel Review was published 1st June 2017.

2020, 2021, 2022

ESB and NEM 2.0

Worth noting in here the process that was run by the ESB that was titled ‘post 2025 Market design’ and which gained the moniker NEM 2.0.

Off the top of my head, I’m struggling to remember any major reforms actually implemented as a result … or perhaps I have forgotten something?

2025

Nelson Review

Which leads to the Nelson Review, which was commissioned in November 2024 with a requirement to report before the end of 2025.

 

As interesting asides, the team at Currently Speaking have also been writing about such Major Reviews:

1)  On 31st July 2023 with ‘Reviewing reviews’;

2)  But then more recently:

(a)  On 26th August 2025 with ‘A (not so) brief review of… reviews… Part 1’; and then

(b)  On 29th August 2025 with ‘A (not so) brief review… of reviews… part 2’.

 

 


About the Author

Paul McArdle
Paul was one of the founders of Global-Roam in February 2000. He is currently the CEO of the company and the principal author of WattClarity. Writing for WattClarity has become a natural extension of his work in understanding the electricity market, enabling him to lead the team in developing better software for clients. Before co-founding the company, Paul worked as a Mechanical Engineer for the Queensland Electricity Commission in the early 1990s. He also gained international experience in Japan, the United States, Canada, the UK, and Argentina as part of his ES Cornwall Memorial Scholarship.

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