Market Review: Completed
The Reliability Panel’s 2021 Annual Market Performance Review (AMPR) provides observations and commentary on the reliability, security, and safety performance of the power system over the period from 1 July 2020 to 30 June 2021. The final report was published in April 2022.
The Panel has released its final report for the 2020-21 Annual market performance review.
During the 2020-21 reporting period the power system maintained high levels of reliability, security and safety in the face of challenging circumstances. In particular:
• Reliability tightened as the power system continued the transition away from coal and towards renewable sources of energy firmed by a range of storage and gas technologies. While there was an increase in the number of notices issued by the market operator that energy reserves are low, there were no cases where a lack of reserves caused an actual loss of consumer load.
• Security outcomes continued to pose challenges as the complexity and difficulty of operating the system within its technical envelope increases. While the market operator issued an increasing number of directions to maintain the security of the power system, there were no instances where the power system was not in a secure operating state for more than 30 minutes.
These findings highlight the continued importance of evolving market and regulatory frameworks to maintain the high levels of reliability and security across the power system that consumers have come to expect and enjoy at an affordable price. To this end, there is currently a large volume of work being undertaken by the ESB, supported by the market bodies to progress the recommendations from the ESB’s post-2025 market design process.
The Panel has also published a data file so that stakeholders can easily access the key data sets used in the report.
The annual review is becoming increasingly relevant as the power system faces a period of rapid transition, with the impacts of this transition already becoming apparent.
The report compiles information collected from a number of sources including the Australian Energy Market Operator, the Australian Energy Regulator, and market participants.
The purpose of the review final report is to:
• Provide stakeholders with consolidated information and expert commentary about the performance of the power system and market in a single publication.
• Highlight emerging trends to help inform the policy and investment decisions of governments, policymakers, market institutions and market participants.
• Identify the issues for attention related to the frameworks or mechanisms used to deliver reliability, security, and safety.
The Reliability Panel
The Reliability Panel’s core functions relate to the security, reliability, and safety of the national electricity system. The focus of the Panel’s work is on determining standards and guidelines which are part of the framework for maintaining a secure and reliable power system.
The Panel is chaired by AEMC Commissioner, Charles Popple. Its members are broadly representative of all stakeholders interested in the operation of the power system and the electricity market including consumer groups, generators, network service providers, retailers and the power system and market operator.