The implementation of the Energy Transformation Strategy has led to fundamental changes to the design of the Wholesale Electricity Market (WEM).
Therefore, it is necessary and appropriate to undertake a holistic assessment of existing market power mitigation mechanisms to ensure they remain fit for purpose. In undertaking this review the Energy Transformation Taskforce identified that enhancements are required in the context of the new market.
At its final meeting on 14 May 2021, the Taskforce reaffirmed certain components of the mechanism proposed in its March 2021 Consultation Paper, while recommending that other components require more analysis and consultation by Energy Policy WA.
Energy Policy WA will continue to develop the detailed design for both the market power mitigation mechanism in consultation with stakeholders through the Transformation Design and Operation Working Group and one-on-one consultation.
