The Australian Energy Market Commission (AEMC) says Australia needs to prepare the ground for a two-sided national energy market, where buying and selling energy can be provided for consumers in real-time.
The AEMC also clarified the advent of smart devices and virtual power plants has created the opportunity for a fully-fledged two-sided market.
AEMC chairman John Pierce said digitalisation has progressed to the point where it is time to consider a completely new approach.
“Looking to the future – both the demand and supply sides of the energy market would be actively engaged in electricity scheduling and dispatch processes – while delivering all the services people expect like hot water, air-con and dishwashing,” Mr Pierce said.