The Australian Energy Market Operator (AEMO) has unveiled two new markets and other reforms for the National Electricity Market (NEM).

Violette Mouchaileh, AEMO's Executive General Manager Reform Delivery, says the reforms will ensure secure, reliable, and affordable energy. 

The development includes the launch of two 'very fast' Frequency Control Ancillary Services (FCAS) markets in October, marking the first new markets introduced since the NEM's inception 25 years ago. 

Mouchaileh has highlighted the importance of these markets in addressing challenges posed by renewable energy growth, enabling the power system to remain secure amid sudden generation and power-system outages. 

These markets also serve as incentives for investments in fast-acting, firming technologies like batteries.

In another initiative, AEMO implemented Aggregated Dispatch Conformance (ADC) through the Integrated Energy Storage Systems (IESS) aspect of the NEM Reform. 

This feature facilitates participants with aggregate systems, such as wind and solar or solar and a battery, to dispatch energy efficiently, optimising cost and energy effectiveness. 

Mouchaileh says such aggregate systems are essential drivers in the ongoing energy transition.

Furthermore, AEMO has introduced a Medium Term Projected Assessment of System Adequacy (MT PASA) interface, collecting and publishing crucial information about scheduled generator availability, reasons, and timing, as well as unit recall time. 

This initiative aims to enhance transparency and information quality regarding generation availability, assisting market participants in making informed decisions about supply, demand, and transmission network outages in the NEM.

Collectively, these reforms, implemented in collaboration with industry participants, are intended to strengthen AEMO's responsiveness to evolving conditions in the energy system, fostering investment in an efficient resource mix. 

More details are accessible here.