Australian Electricity Markets
The National Electricity Market has five trading regions covering New South Wales and the Australian Capital Territory, Victoria, Queensland, South Australia and Tasmania. The trading regions are interconnected via extra high voltage transmission lines.
The South West Interconnected System (SWIS) is the electricity system covering the south-west of Western Australia, including Perth. The Wholesale Electricity Market of Western Australia (WEM) supplies electricity to the SWIS.
Electricity generation in Australia is undergoing a significant transition towards more distributed, intermittent generation sources.
Thermal generation continues to be an important part of our energy mix but the proportion of renewables continues to grow, driven by technology improvements and falling costs.
Consumers continue to invest in solar photovoltaic systems to cut their power costs. Over two million Australian rooftops now have solar PV, providing nearly eight gigawatts of generation capacity.
Electricity Market Development
The forma COAG Energy Council established the Energy Security Board (ESB) to provide oversight for energy security and reliability to drive better outcomes for consumers while our energy mix transitions.
The ESB is tasked with developing the ‘Post 2025 Market Design for the National Electricity Market’ which will provide advice on a market framework supporting reliability from the mid-2020s.