The WEM is established under the Electricity Industry (Wholesale Electricity Market) Regulations 2004.
The WEM Regulations cover the responsibilities and functions of the responsible parties including the Australian Energy Market Operator, System Management, the IMO and the Electricity Review Board under the Wholesale Electricity Market Rules (WEM Rules).
The WEM Rules govern the operation of the WEM in the South West interconnected system.
The WEM Rules detail the roles and functions of the Australian Energy Market Operator, System Management, the IMO and other governance bodies, and guide the operation of the market including the trading and dispatch of energy, the Reserve Capacity Mechanism and settlement.
The current WEM Rules consist of the Wholesale Electricity Market Amending Rules which were gazetted on 19 September 2006, together with all gazetted amendments made by the Minister for Energy prior to 15 December 2006 and amendments made by the IMO since 15 December 2006.
This consolidated version of the WEM Rules is provided as a clean copy for information. A hard copy is available for viewing in the IMO's office.
WEM Rules commencing 1 July 2016
From 1 July 2016:
- the IMO's compliance and enforcement functions have been transferred to the Economic Regulation Authority; and
- System Management functions have been transferred to the Australian Energy Market Operator.
These transfers have necessitated a number of changes to the WEM Rules.
The WEM Rules, made by the Minister for Energy, giving effect to these changes were gazetted on 30 June 2016. The Gazette is available here
The Public Utilities Office has provided the IMO with a consolidated version of the WEM Rules that commence at 8:00am on 1 July 2016, and Schedules for the gazetted changes commencing on later dates.
Consolidated versions of the WEM Rules will be published as the relevant rules in each Schedule commence.
The WEM Rules commencing on 1 July 2016 provided to, and published by, the IMO did not contain the gazetted version of market rule 4.20.5B. The IMO has subsequently been provided with, and published on 26 July 2016, a further version of the WEM Rules commencing on 1 July 2016 containing the correct version of market rule 4.20.5B.
All Rule Change Proposals progressed since the commencement of the formal Rule Change Process on 15 December 2006 can be found here. Any amendments to the Market Rules prior to this time were progressed by the Public Utilities Office (former Office of Energy) on behalf of the Minister for Energy and can be accessed by contacting the Public Utilities Office.