Electricity market reform changes
The Minister for Energy today announced some significant reforms to the Wholesale Electricity Market (WEM) designed to reduce inefficiencies, remove excess capacity and send strong price signals to participants.
Of most significance for Synergy are major changes to the Reserve Capacity Mechanism and a planned reduction in fleet size of approximately 15% of nameplate capacity.
Synergy is currently engaged in a process to determine what plant closures will result in the best commercial and electricity system outcomes for the business and the State.