Australia's energy markets have undergone significant reforms since the early 1990’s as a result of the implementation of National Competition Policy, the related Competition Principles Agreement and later the Australian Energy Market Agreement
.
These reforms have been conducted in co-operation with State and Territory Governments through the Ministerial Council on Energy (MCE), which consists of energy minister's from all Australian jurisdictions.
During this time, MCE led reforms have included the creation of the National Electricity Market and the development of consistent national regulation of natural gas and electricity transmission and distribution infrastructure through National Energy Market Legislation.
These laws are administered by a single set of National Energy Market Institutions.
Energy market reform has enhanced and is continuing to enhance Australia's economic prosperity by encouraging efficient provision of reliable, competitively priced energy services to Australians.
The Department of Resources, Energy and Tourism drives Commonwealth policy in the energy market reform program being implemented by the MCE. Key streams of this program currently include:
- the development of a National Energy Customer Framework
- the development of a Gas Short-Term Trading Market
- further market development to improve transparency, competition and trading opportunities.
The Department is currently participating in a range of reforms led by the Ministerial Council on Energy. Further detail about current reforms can be found on the Ministerial Council on Energy website.