Forming the National Electricity Market: Australia’s electricity market reforms

The Australian Energy Regulator (AER) is an independent authority overseeing wholesale and retail electricity markets and networks under national legislation and rules. Its role is shaped by the development of the National Electricity Market (NEM), making it essential to understand the broader governance and market context in which the AER operates. 
This insight brief introduces the NEM, outlines key governance institutions, and explores the AER’s evolving role. It also draws connections to Southeast Asia, offering lessons and approaches that may support regional efforts to strengthen energy market design, regulatory frameworks, and cross-border cooperation.