Introduction to the Wholesale Electricity Market (WEM)

This course 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 of 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 functions
  • 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 (SCED)
  • What is SCED
  • How the WEM Dispatch Engine (WEMDE) works
• Reserve Capacity Mechanism (RCM)
  • High level explanation of the RCM and its purpose
  • Key RCM timelines
• Settlement in the WEM
  • Basic overview of segments settled in the WEM
  • Introduction of net settlement concept
  • Key settlement timelines and obligations
• Registration
  • Overview of the registration process for Participants and Facilities in the WEM

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.

Cost:

$220 per person ($200 plus 10% GST) for non-WEM Participants

Free for WEM Participants (please see the fee-waiver instructions and eligibility in the course description on the AEMO Learning Academy)

Course dates:

How to enrol:

• Visit the AEMO Learning Academy
• Click on the Catalogue button to view all available courses
• Add the relevant course(s) to your Shopping Cart
• Create an individual login during the Checkout process

For more information, please contact [email protected]