Corporate Information
The National Electricity Market Management Company (NEMMCO) is the market operator of the National Electricity Market (NEM) and the system operator of the national grid.
NEMMCO was established in 1996 to administer and manage the NEM, develop the market and continually improve its efficiency. The
governments of Queensland, New South Wales, the Australian Capital Territory, Victoria, South Australia
and Tasmania are members of NEMMCO. Each of these governments nominates a director to the
NEMMCO board.
NEMMCO is a company under Corporations Law. It operates on a break-even basis by recovering the
costs of operating the NEM and running the organisation by levying fees against market participants. The fees are complex, and comprise both fixed and variable components that take into account the
type of participant and their share of trade in the market. The structure of fees payable to NEMMCO is determined periodically, while the actual fee levels are set annually.
NEMMCO manages the market and power system from two control centres in different states. Both
centres operate around the clock, and are equipped with identical communication and informationtechnology systems. The entire NEM, or individual regions within it, can be operated from either or both centres. This arrangement is a means of ensuring continuous supply despite the risks that natural disasters or other events present, and provides NEMMCO with the flexibility to respond quickly to dramatic changes in the market or the power system.
- Includes six states/territories: the Australian Capital Territory, New South Wales, Queensland, South Australia, Tasmania and Victoria
- At 4000km, the NEM represents the longest interconnected high voltage grid in the world
- Services a population of 18 million people - around 8 million households and businesses
- About 196,000 gigawatt hours of electrical energy with a value in excess of $11.5 billion was traded during 2006-07
- Currently 131 participants registered to trade in the wholesale market (as at 8 April 2008)
NEMMCO's annual reports are published in October each year.
Hard and/or soft copies of archived annual reports may be requested from the NEMMCO Information Centre.
STATEMENT OF CORPORATE INTENT
In accordance with the requirements of the NEMMCO Members' Agreement, the NEMMCO Board has approved the Statement of Corporate Intent and Annual Budget for 2008/09.
The final document includes a number of changes that incorporate the comments received through the consultation process with jurisdictions and participants, as well as a final review undertaken by NEMMCO.
Appendix A of SCI
Following COAG’s request to develop an implementation plan for AEMO, the MCE released the following synopsis of the AEMO Implementation Plan on 4 March 2008.
For further information, please contact: NEMMCO’s Information Centre on 1300 361 011.
The states of the Australian
Capital Territory, New South
Wales, Queensland, South Australia, Tasmania, and Victoria are signatories to the
NEMMCO Members’ Agreement.
The Members’ Agreement sets out the
rights of the jurisdictions in relation
to NEMMCO.
NEMMCO is incorporated under the
Corporations Act, and is a company
limited by guarantee. The Directors
are responsible and accountable under
this legislation.
The jurisdictions involved in the Australian National Electricity Market have and are continuing to review governance and liability arrangements for the Market with the aim of ensuring that market institutions are exposed to effective performance incentives and accountability mechanisms.
Members of NEMMCOs board are responsible for overall Corporate Governance including setting the strategic direction of NEMMCO and monitoring its performance against predetermined goals, ensuring that both the internal controls and reporting procedures are adequate and effective, and establishing appropriate ethical standards.
MEMORANDUMS OF UNDERSTANDING
NEMMCO has agreed to MOUs with the Australian Energy Regulator (AER) and the Australian Energy Market Commission (AEMC) to establish an agreed framework for cooperation and liaison between the AEMC and NEMMCO, and the AER and NEMMCO in its capacity as the operator and administrator of the wholesale electricity market.
NEMMCO'S PRIVACY STATEMENT
