On Friday 22nd March I saw via social media that the AER had (yesterday) released an Issues Paper with respect to Enhanced Wholesale Market Monitoring and Reporting. Given our focus on seeking to understand what’s happening in the National Electricity Market such that we can help others also understand via our software, this was naturally of interest to us.
The Issues paper, and other associated materials, are linked below.
| The Report | Other Materials |
|---|---|
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You can download the 49-page PDF of the Issues Paper here:
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On the AER website are the following: 1) A Media Release titled ‘AER seeks feedback on Enhanced Wholesale Market Monitoring and Reporting Guideline issues paper’. 2) Which links through to this Resource Page on the AER website. 3) That page links to pages below, including this Initiation Page.
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On a quick scan, the key points seem to be (from this page):
There are changes to law that are expected to be enacted soon that ‘will expand the AER’s wholesale market monitoring and reporting functions to include wholesale gas markets and electricity and gas contract markets’.
Whilst this is all interesting, we’re particularly interested the electricity contract market side of things.
‘The Amendment Bill requires the AER to develop a guideline that outlines the scope for our wholesale market monitoring functions and the collection and reporting of information related to these functions.’
Whilst this is all interesting, we’re particularly interested the electricity contract market side of things.
The AER say…
‘We are interested in stakeholder views on:
• our approach to wholesale market monitoring and reporting, including our proposed key areas and questions for assessment and specific metrics that would be valuable for addressing the proposed key areas
• what should be routinely collected and what types and classes of information should not be collected
• our proposed targeted incremental approach and our initial areas of focus, as well as views on any alternative areas that we should consider
• whether there are any agencies in addition to ASIC and ACCC that we should consider exploring information sharing arrangements with and how to further facilitate information sharing
• the format, frequency and granularity of information collection as well as considerations of historical collection
• the operationalisation of the AER’s disclosure and procedural fairness policies and frameworks. ’
Indicative timetable
For ease of reference, I thought it would be useful to copy in the indicative timetable that was on this AER page:
| Event | Date* |
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Publish issues paper … which is now done
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Thu 21st March 2024 (i.e. yesterday) |
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To register for this forum, visit this page at Eventbrite. |
Tue 9th April 09:30-11:30 AEST |
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Workshops and bilateral meetings
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March-April
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Submissions due Interested parties are invited to make written submissions to the AER about this paper via email to ContractMarketMonitoring@aer.gov.au with the subject line Enhancements to wholesale market monitoring and reporting guideline – issues paper submission by close of business, 23 April 2024. More details were noted here.
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Tue 23rd April |
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Publish draft guidelines
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June |
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Stakeholder engagement
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June-July |
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Submissions due
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July |
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Publish final guidelines
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September |
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Begin consultation on initial information requests
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Before the end of 2024 |
* … also echoing the AER’s caveat that the dates are ‘subject to change’
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