Introduction to the Wholesale Electricity Market (WEM)

This courses aims to provide an overview of the Wholesale Electricity Market, its mechanisms and the roles of the entities involved. It also provides a high-level explanation how a power system works and how Security Constrained Economic Dispatch is managed in the WEM.

No prior knowledge of the WEM, power systems, or energy markets is required to attend this course.

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

Course content

• Introduction to the WEM and its mechanisms
  • Entities involved and their roles, including AEMO’s function
  • Characteristics of the WEM and the SWIS
• Power System Basics
  • The needs of a power system and how they can be met
• Security Constrained Economic Dispatch
  • How WEMDE works
• Reserve Capacity Mechanism
  • High level explanation of the RCM and its purpose
  • Key timelines in RCM
• Settlement in the WEM
  • Basic overview of segments settled in the WEM
  • Introduction of net settlement concept
  • Key timelines and obligations relating to settlement 

Learning outcomes:

Attendees of the course will gain an overview of the Wholesale Electricity Market in Western Australia (WA) and its mechanisms, a basic understanding of the electricity sector and how a power system works. The course provides insight into how WEMDE works to provide Security Constrained Economic Dispatch, as well as a high-level explanation of the Reserve Capacity Mechanism and settlement in the WEM.

Course dates:

Cost:

Free for WEM Market Participants
$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