IT’S expected the operator of the Western Australian and South Australian gas retail markets will be announced within the week.
The Retail Energy Market Company (REMCo), established last year to oversee a fully contestable gas market across WA and SA, is in final contract negotiations with the preferred suppliers of administrative and IT systems support.
REMCo CEO Stephen Thompson said work had already commenced in cooperation with the suppliers and market participants, in the expectation that the contracts would be signed.
Those invited to submit proposals were Sydney-based M-co The Market Place Company, Victoria’s VENCorp, and Cap Gemini Ernst & Young. M-co, reported to be part of the solution involving several parties, already operates the gas retail market in NSW and the ACT.
The company is also an international electricity market operator, operating Singapore’s wholesale electricity market, and advising the South African Government on market design.
M-Co also designed and implemented New Zealand’s wholesale electricity market, and despite the outcome of the retail gas tender, was considering opening a Perth office to possibly advise on WA’s new electricity market.
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