The National Electricity Market (NEM) is a wholesale electricity market in Australia that connects the electricity systems of New South Wales, Victoria, Queensland, South Australia, and Tasmania. It allows electricity to be traded between these regions, ensuring a reliable supply and competitive pricing for consumers. The NEM operates under a set of rules and regulations designed to promote efficiency and sustainability in electricity generation and consumption. Established in 1998, the NEM is managed by the Australian Energy Market Operator (AEMO). It facilitates the generation and distribution of electricity from various sources, including renewable energy like wind and solar, as well as traditional fossil fuels. The market plays a crucial role in balancing supply and demand, helping to maintain grid stability and support the transition to cleaner energy sources.