Adelaide Advertiser
Thursday 25/6/2009 Page: 46
A NEW short-term trading market to determine daily wholesale gas prices will be established in South Australia and NSW by July 2010. The trading market is the first of its kind for South Australia and is one of the key objectives of the Australian Energy Market Operator, which starts operating next week.
The daily wholesale prices will be set according to supply and demand, AEMO's general manager - corporate affairs Paul Bird said. "The short-term trading market will enable retailers and gas producers to operate within the same market," Mr Bird said.
The AEMO, which was first mooted at a COAG meeting in 2006, will be the new national energy market operator delivering gas and electricity services across states. It will also undertake a transmission plan for the national energy market, including renewables.
The Electricity Supply Industry Planning Council in SA, along with Victoria's VENCorp, National Electricity Market Management Company and a number of gas market operators will be part of the new AEMO. "The aim is to get one operator to create greater efficiency in the gas and electricity markets and explore synergies," Mr Bird said. AEMO will be headquartered in Melbourne with offices in each state, with Matt Zema named as the new chief executive.
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For a clear view of how the National Electricity Market runs in real time, under NEMMCO/AEMO, see the NEM-Watch software
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