Another key body is the Australian Energy Market Operator(AEMO). AEMO consists of the following six founding entities: National Electricity Market Management Company (NEMMCO), Victorian Energy Networks Corporation (VENCorp), Electricity Supply industry Planning Council (ESIPC), Retail Energy Market Company (REMCO), Gas Market Company (GMC), Gas Retail Market Operator (GRMO). AEMO draws together the functions carried out by these organisations, incorporating management of the National Electricity Market (NEM) and the retail and wholesale gas markets of eastern and southern Australia and oversees system security of the NEM electricity grid and the Victorian gas transmission network. In addition, AEMO is responsible for national transmission planning and the establishment of a Short Term Trading Market for gas.
AEMO was established by the Council of Australian Governments (COAG) and developed under the guidance of the Ministerial Council on Energy (MCE). AEMO is run by a skills-based board of nine non-Executive Directors and the Chief Executive Officer.