Given the complexity of WEM Reform and the need for continuous operations, a comprehensive market readiness program is mission critical to a successful transition to the new WEM.
Market readiness involves supporting market participants with preparatory activities to ensure a successful market cutover and commencement, and includes four components:
- Market Readiness Engagement and Reporting Strategy – ensures Market Readiness can be measured, progress against the Market go-live is regularly reported and stakeholders understand how they will be engaged during the readiness process. The Market Readiness Engagement and Reporting Strategy has undergone consultation with Market Participants and the published version is available here
- Industry Testing & Market Trial - ensures Market Participants understand how to test against AEMO’s platforms. This strategy is currently under development.
- Market Trial Definition – ensures our Market Participants understand the scope and timing of Market Trials. This strategy is currently under development.
- Market Transition – ensures everyone understands the plan to transition from the old to the new market and how the go/no go decision will be made. This strategy is currently under development.
AEMO will conduct industry consultation on the strategy for each component of market readiness via the WRIG and WRIG-IT Forums.