The Wholesale Electricity Market (WEM) is governed by the Wholesale Electricity Market Rules (WEM Rules).
These WEM Rules detail the roles and functions of the Australian Energy Market Operator (AEMO) and other governance bodies, and guide the operation of the market including the trading and dispatch of energy, the Reserve Capacity Mechanism and settlement.
For information on proposing a rule change, visit the webpage: Rule Change Process.
The current WEM Rules and any Amending Rules that have been Gazetted and are awaiting commencement are provided below. For previous versions of the WEM Rules, visit the webpage: Historical versions of the WEM Rules.
Current Wholesale Electricity Market Rules
20 November 2024:
Wholesale Electricity Market Rules 20 November 2024 (docx)
Wholesale Electricity Market Rules 20 November 2024 (PDF)
1 January 2025:
Amending Rules Gazetted and Awaiting Commencement
The sections below detail Amending Rules that have been Gazetted, but commence in the future.
Wholesale Electricity Market Amendment (FCESS Cost Review) Rules 2024
The Amending Rules set out in Schedule 3 come into operation at 8:00 AM (WST) on 1 February 2025.
The Amending Rules set out in Schedule 4 come into operation at 8:00 AM (WST) on 1 March 2025.
Wholesale Electricity Market Amendment (Miscellaneous Amendments No. 3) Rules 2024
The Amending Rules set out in Schedule 3 come into operation at 8:00 AM (WST) on 1 January 2025.
The Amending Rules set out in Schedule 4 come into operation at a time specified by the Minister in a notice published in the Gazette.
Wholesale Electricity Market Amendment (Supplementary Capacity No. 3) Rules 2024
The Amending Rules set out in Schedule 2 come into operation at a time specified by the Minister in a notice published in the Gazette. 
Wholesale Electricity Market Amendment (Supplementary Capacity No. 3) Rules 2024
Wholesale Electricity Market Amendment (Cost Allocation Reform) Rules 2024
The Amending Rules set out in Schedules 2, 3 and 4 come into operation at a time specified by the Minister in a notice published in the Gazette. Different days may be specified for different provisions.
Wholesale Electricity Market Amendment (Reserve Capacity Reform) Rules 2023
The Amending Rules set out in Schedules 2, 3 and 4 come into operation at a time specified by the Minister in a notice published in the Gazette. Different days may be specified for different provisions.
