Market Design Summary
The Market Design summary provides a high-level understanding of the design and operation of the Wholesale Electricity Market (WEM) and the South West Interconnected System (SWIS).
WEM Reform will see significant changes to the WEM rules, systems, WEM procedures and processes. The Market Design Summary reflects the work completed by Energy Policy WA (EPWA), working with AEMO and Market Participants, to design and develop changes to the WEM Rules.
These changes have or will be gazetted by the WA Government in “Tranches” of Rules between January 2020 and December 2022. The first four Tranches have been gazetted and contain most of the key framework required for the WEM Reform. The Market Design Summary will require further updates as Tranche 5 of the Rules is completed and gazetted (planned for December 2021.
The new summary replaces the previous version published by the Independent Market Operator (IMO) in 2012 and reflects how the WEM will operate post Reform. It describes the various components of the WEM, their purpose and objectives, and how they interact with each other.
WEM Market Participants are encouraged to read the Market Design Document to assist with understanding of their requirements for operating in the reformed WEM.