WEM Markets and Settlement

This course provides a foundational understanding of the Wholesale Electricity Market (WEM) in Western Australia (WA), focusing on the mechanisms used to determine prices for energy and Frequency Co-optimised Essential System Services (FCESS), and recover costs for all market segments. It also provides an overview of the processes associated with market settlement and prudential monitoring.

This course assumes that participants have previously attended the WEM Introduction course or have a basic familiarity with the WEM, energy markets and energy trading in general.

This course is delivered in-person or fully online over one full day.

Course content

• An overview of pricing outcomes in the WEM including:
  • How prices are determined in the Short Term Energy Market (STEM), Real-Time Energy Market, and FCESS Markets, and how they are applied in settlements
  • An overview of the calculation of Energy and FCESS Uplift payments and how these costs are recovered
  • How the costs of the Reserve Capacity Mechanism are captured and recovered via the Individual Reserve Capacity Requirement

• An outline of the WEM settlement processes, timelines and obligations
• The basics of how a Rule Participant’s prudential obligations are determined and monitored, including the requirements for Credit Support in the WEM

Learning outcomes

Attendees of the course will gain an in-depth understanding to the WEM in WA, focusing on the mechanisms to set prices and settle each market segment, and the processes for settlement and prudential monitoring.

Course dates

Cost

This course is free for WEM Market Participants and $200 (plus GST) per person for all others.

How to enrol:

• Visit the AEMO Learning Academy
• Click on the catalogue button to view courses
• Add the education course to the Cart
• Create an individual log in

You will also be able to access the AEMO eLearning and education catalogues.

For more information, please contact energyeducation@aemo.com.au