1. AEMCPAGE 1 Towards Smarter Regulation 28 May 2015 JOHN PIERCE AUSTRALIAN ENERGY MARKET COMMISSION World Forum on Energy Regulation

2. Australia’s National Electricity Market AEMCPAGE 2 NEM equivalent * Map is to scale

3. Heat map: solar PV growth in Australia AEMCPAGE 3 2010 2015 200MW4000MW+

4. Falling growth in electricity consumption AEMCPAGE 4

5. Principles for modern energy regulators Flexible and resilient enough to respond to change, whatever comes. Embrace the consumer driven transformation of energy markets Develop a whole of market demand side participation program Dedicate time and resources to studying relevant emerging trends Rigorous consumer research focussed on state of retail competition AEMCPAGE 5

6. AEMCPAGE 6