The South African Wholesale Market Code

The development of the Market Code is an integral part of the new Electricity supply industry. These rules will inevitably shape South Africa’s Future. Therefore, be apart of this development and shape your future

  • The Market Code provides for the purchase and sale of electrical energy by participating generators, retailers and traders as well as the physical delivery and consumption of electricity on a short term basis, within a framework of medium and long term security of supply.
  • It also sets out the trading and settlement rules and procedures for participation in the competitive electricity market of South Africa including the required supporting functions and regulations.
  • It is a condition of the expected Market Operator Licence (once the ERA amendment bill is passed) that the Market Operator shall enter into and at all times administer and maintain a Market Code and rules which:
  1. set out the terms of the trading and settlement arrangements for the sale and purchase of wholesale electricity in the South African Wholesale Electricity Market (SAWEM);
  2. contain modification procedures which provide that any major modifications to the Market Code must be subject to a transparent governance process that afford participants and stakeholders an opportunity to propose changes to the Code.

Market Code Launch

Market Code Workshop 1

Market Code Workshop 2

Market Code Workshop 3

This Market Specification document has been developed to support the understanding of the South African multi-market model as defined in the Electricity Regulation Act (ERA) Amendment Bill. It serves as a high-level description of the market model.
This Market Specification document has been developed to support the understanding of the South African multi-market model as defined in the Electricity Regulation Act (ERA) Amendment Bill. It serves as a high-level description of the market model.

Market Code Detailed Workshop 4: Intraday, Balancing & Metering

The NECOM Secretariat invites you to a public forum to discuss the draft South African Wholesale Electricity Market Code

Date:

Wednesday, 03 July 2024

Time:

09:00 – 13:30

Future Workshop Dates

Intraday, Balancing & Metering – 3 July

• Bids and Offers, Price setting
• Balancing Merit Order
• Metering and Reconciliation

Revision session – 17 July

• Items requiring additional discussion from Workshops 1-4
• Bin list not resolved in prior workshops

International trade through SAPP – 31 July

• Interconnector capacity allocation
• Boundary conditions
• Alignment of timelines
• Who and how to trade

Settlements and Credit Cover – 14 August

• Financial settlements
• Credit cover calculations
• Financial timelines
• Data query and financial dispute process

AS & Reserve Markets – 28 August

• Ancillary Services Products
• Capacity Markets

Hedging and Contracts for Differences – 11 September

• Contracts for difference
• Other options for trading
• Interface with MO/SO

Revision session – 25 September

• Items requiring additional discussion from Workshops 1-4
• Bin list not resolved in prior workshops