The Australian energy industry can be complex and sometimes confusing, especially with the number of acronyms used in the category. SRSLY, what do they all mean? Do you need a degree in jargon?
To help crack the energy code, we thought we’d highlight some of the most prominent acronyms in an alphabetical guide:
AEMO – Australian Energy Market Operator is responsible for operating Australia’s largest gas and electricity markets and power systems.
AEMC – Australian Energy Market Commission: the expert energy policy adviser to Australian governments.
AER – Australian Energy Regulator: regulates electricity networks and covered gas pipelines, in all jurisdictions except Western Australia.
ACCC – Australian Competition and Consumer Commission: Australia's competition regulator and national consumer law champion.
COAG – Council of Australian Governments: is the peak intergovernmental forum in Australia. The members of COAG are the Prime Minister, state and territory First Ministers and the President of the Australian Local Government Association (ALGA). The Prime Minister chairs COAG.
CPI – Consumer Price Index: is a measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care.
DWGM – Declared Wholesale Gas Market: the Victorian declared wholesale gas market (DWGM) which enables competitive, dynamic trading based on injections into, and withdrawals from, the transmission system that links multiple producers, major users and retailer.
MIRN – Metering Installation Registration Number: a unique 11-digit number assigned to your gas service by the distributor and used by the gas distributor and retailers to identify your delivery point. You can find your MIRN on the back page of your gas bill.
NEM – National Energy Market: It interconnects five regional market jurisdictions – Queensland, New South Wales (including the Australian Capital Territory), Victoria, South Australia, and Tasmania
NEG – National Energy Guarantee: is made up of two parts that together will require energy retailers and some large users across the NEM to deliver reliable and lower emissions energy generation each year.
NMI – National Meter Identifier: is a unique 10 or 11-digit number used to identify every electricity network connection point in Australia.
STTM – Short Term Trading Market: is a market-based wholesale gas balancing mechanism established at defined gas hubs in Sydney, Adelaide and Brisbane.
RET – Renewable Energy Target: is an Australian Government scheme designed to reduce emissions of greenhouse gases in the electricity sector and encourage the additional generation of electricity from sustainable and renewable sources.
WEM – Wholesale Energy Market: the electricity market of Western Australia of which there are more than one million customers.
VPP – Virtual Power Plant: is a pooled set of decentralised units in a power network. They are operated by a common, centralised IT control system.
An even more comprehensive glossary of terms (and measurements) can be found here for your reference.