In July 2023, the Australian Energy Market Commission (AEMC) commenced a work program exploring the suitability of the national electricity market (NEM) in a renewable-dominated future. We did this work in our role as expert energy adviser to governments.  

As part of this work, we have provided a submission to the Australian Government’s NEM wholesale market settings review draft report. This review is being led by an independent expert panel supported by the Department of Climate Change, Energy, the Environment and Water.  

Our submission outlines the Commission’s thoughts on the draft report so that the Panel can ensure we have the right market settings in place for a smooth transition.

Overall, we support the Panel’s draft recommendations and consider them an important step forward in promoting the long-term interests of consumers. The proposed reforms are a package that, together can play a key role in enabling the cost-effective, efficient and reliable transition to a net zero NEM.

Our future of the wholesale market design project is part of our priority to progress work relating to longer-term market design to ensure our frameworks provide the appropriate reliability settings, efficient provision of system services and investment signals for the net zero future