For over 5 years, our Energy Action Price Index (EAPI) has been keeping the commercial and industrial (C&I) electricity market in the NEM abreast of pricing movements with our extensive pricing data received through our reverse auction platform.
To date, there has been no independent market pricing publicly available for the electricity market in Western Australia, known as the South West Interconnecting System (SWIS). Following the shift in the Western Australian market to offer unbundled pricing for C&I clients, pricing transparency and negotiation of energy-only rates has become simpler. This paved the way for Energy Action to begin conducting reverse auctions for the WA Market almost 3 years ago.
In October, we expect to launch the first static version of the EAPI, which will include a WA indication of where pricing is. This information will be updated and released on a weekly basis and available through your Account Manager.
Data is representative of pricing events from more than 200 WA auctions each year and incorporates data of more than 400 NMIs. Pricing is currently secured through five active retailers who participate in WA Auctions on the Australian Energy Exchange. These retailers are, Alinta, Synergy, ERM, Change Energy and Perth Energy. This is a growing market for Energy Action, and we anticipate the auction rates to grow and, in turn, see the pricing become tightly aligned with market movements and pricing trends.
As with the current Energy Action Price Index, the chart provides indicative insights on the market movements of the retail price of the energy-only component of a C&I electricity contract.
For more information, contact your Account Manager, or your nearest Energy Action office.