The AER is seeking stakeholder input into the development of a new approach to wholesale electricity market monitoring. The approach will guide the first comprehensive long-term monitoring of the markets and help inform advice to the COAG Energy Council on the effectiveness of competition and any barriers to competition and the efficient operation of the National Electricity Market.
We published a discussion paper on 31 August 2017 that outlines options for defining effective competition and market efficiency, the products and markets that should be considered, the most relevant framework to assess market structure, participant conduct and market performance, and how information should be gathered and reported. We invited interested parties to respond to the issues raised in the discussion paper by providing us with written submissions. The consultation period closed on 13 October 2017. We also held a public forum on 6 October 2017 to listen to stakeholders' views on the issues raised in our discussion paper.
Our next step is to develop a draft statement of approach, taking into account stakeholders' views. We expect to publish our draft statement of approach in November 2017.