Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Australian energy market operator established.



Download PDFDownload PDF

Minister for Resources and Energy, Minister for Tourism

AUSTRALIAN ENERGY MARKET OPERATOR ESTABLISHED The Minister for Resources and Energy, Martin Ferguson AM MP, has welcomed today’s establishment of the Australian Energy Market Operator (AEMO).

The formation of a national institution to operate Australia's energy markets will create efficiencies and benefit all Australian energy consumers. AEMO will operate the existing electricity and gas energy markets in New South Wales, Victoria, Queensland, South Australia, Tasmania and the Australian Capital Territory.

AEMO will also take on important new planning functions, including the new National Transmission Planner, and will be responsible for the production of an annual Gas Statement of Opportunities. These roles will help enhance the competitiveness of the Australian energy markets.

Minister Ferguson said: “AEMO has commenced during a period of increasing interdependence between gas and electricity as energy sources. In the past two years we have seen these interdependencies grow, with gas-fired power generation facilities now operating in every Australian

state.”

In addition to the governments of participating jurisdictions, AEMO’s membership will include industry representatives to facilitate transparency of AEMO’s operations and enhance its accountability to this stakeholder group.

AEMO’s creation follows a Council of Australian Governments decision of April 2007 to strengthen Australia’s national energy market governance arrangements and completes an intensive process between the government and industry.

Minister Ferguson said: “I would like to congratulate my fellow Ministerial Council on Energy Ministers and their officials for delivering this major institutional reform.

“To create a new organisation to assume the functions of five existing market operators, in a little over two years and without disrupting existing market operations is an outstanding achievement.

“More effective markets and competition under AEMO will help underpin Australia’s energy future and strengthen infrastructure and service investment opportunities for industry.”

Further information on AEMO can be found at www.aemo.com.au or www.mce.gov.au.

Media contact: Michael Bradley - 0420 371 744

RET Minister > The Hon Martin Ferguson AM MP

The Hon Martin Ferguson AM MP

01 Jul 2009

Page 1 of 1 Minister for Resources and Energy, Minister for Tourism