We published our Wholesale Market Monitoring and Reporting Guideline on 5 November 2024.
Amendments to the National Electricity Law and National Gas Law to enhance the AER’s wholesale market monitoring and reporting functions to include wholesale gas markets and electricity and gas contract markets took effect from 8 May 2024. These amendments require 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.
Access to contracts and related information will provide the AER with visibility of the underlying drivers influencing how and why market participants behave the way they do, whether the outcomes in wholesale markets reflect effective competition in those markets, and whether wholesale markets are operating efficiently. We will use our improved market understanding and insights to expand and enhance our existing suite of reports, providing timely and transparent information to market participants, policy makers and consumers throughout and beyond the energy transition.
This Guideline also replaces our previous Wholesale electricity market performance monitoring – Statement of Approach, combining our approach to wholesale electricity and gas market monitoring and reporting into a single document.
Consultation
We consulted on our Draft Guideline from 2 July 2024 through to 7 August 2024. We previously published an Issues Paper on 21 March 2024 for consultation through to 30 April 2024.