The effect of the idealized design parameters, the natural period of oscillation and damping, on the performance of a generic Wave Energy Converter (WEC) model is investigated. Other studies have been conducted on specific WEC technologies, overlooking the impact of these design parameters. Australia has been used as a case study. The consequences of the damping parameter are highlighted. A broad range of ocean wave climates are investigated across different seasons to determine the idealized values of the parameters appropriate for a location, to assist planning for extensive WEC deployments. Swell and wind-sea wave systems were studied; the response of generic model was used to determine the theoretical power generated. It was found that WECs should be selected for a location based on their damping as well as their natural period of oscillation so that the ocean wave resource is optimally utilized.