Earlier this afternoon, the Australian Government’s Department of Climate Change, Energy, the Environment and Water (DCCEEW) publicly published the final report of the NEM Wholesale Market Settings Review, colloquially known as the ‘Nelson Review’.

DCCEEW have also published the communique for the Energy and Climate Change Ministerial Council’s meeting earlier today, which included the following statement regarding the council members’ position on the final report:

“Energy Ministers thanked the Panel for its work.

Ministers noted the Final Report of the NEM Wholesale Market Settings Review, which is being published today, and agreed in principle to its core recommendations – noting Queensland did not provide in-principle agreement, but acknowledged the good work of the panel so far and recognised sovereignty of jurisdictions to address the challenges they face.

These include establishing an Electricity Services Entry Mechanism (ESEM), a Market Making Obligation, and improved visibility of Price Responsive Resources. These reforms will support an orderly transition that helps put downward pressure on prices by establishing a nationally consistent framework for jurisdictions to facilitate investment in crucial electricity services such as bulk energy supplied by renewable sources and firming supplied by sources like batteries, gas-powered and hydro-electric generation, ensuring reliable and affordable electricity for consumers and achievement of state energy targets.”

Background

The review has been chaired by Tim Nelson, alongside panel members Phil Hirschhorn, Ava Hancock and Paula Conboy, and was tasked with assessing the NEM’s wholesale market settings as the Capacity Investment Scheme (CIS) tender process approaches its scheduled conclusion in 2027.

Commissioned by the Federal Government in late November 2024, the review opened for public submissions last December. Following the publication of those submissions in early May 2025, the panel conducted a series of public forums across the NEM. The draft report was released in early August.

Media coverage and responses

Below is a list of media and industry coverage we’ve identified relating to the release of the final report. We’ll aim to update this section as additional coverage emerges.

RenewEconomy

• Giles Parkinson wrote “Energy ministers endorse Nelson market review to succeed CIS, with the exception of Queensland“
• Giles Parkinson wrote “No major changes but some important tweaks in final Nelson Review – more visibility, shorter tenors“

The Energy

• Ben Potter wrote “Nelson review lays ground for live trials of novel contracts“

The Daily Telegraph

• John Rolfe wrote “The fix is in: Ministers back plan to offer fixed-price electricity deals for Australians“

Other

• A group of industry bodies — including the Australian Energy Council and Clean Energy Council — released this joint statement.