The business leaders were given an explanation of the recommendations of WA's energy review that reported last week. The review team, headed up by oil and gas executive, John Hyslop, conducted a year-long investigation of the state's power industry.

Some of the key 79 recommendations include breaking up the state-owned electricity monopoly, Western Power, and the introduction of competition in electricity supply, particularly at retail level.

The report also recommended the creation of statewide wholesale market for electricity while advocating the establishment of an independent power industry regulator.

Earlier this year, the Government encouraged gas distributor AlintaGas to consider competing with Western Power while restricting the electricity utility's capacity to compete in the retail gas market.

The WA Chamber of Commerce and Industry welcomed the report.

"Energy is a critical input cost to business so we endorse the electricity reform process," said Chamber director of policy and external affairs, David Parker.

"In particular, we can see benefits for regional Western Australia for energy intensive resource projects," he said.

"We strongly endorse the Task Force recommendations."