The Competitive Market for Electricity in Australia: Why it Works so Well

@inproceedings{Outhred2000TheCM,
  title={The Competitive Market for Electricity in Australia: Why it Works so Well},
  author={Hugh Outhred},
  booktitle={HICSS},
  year={2000}
}
The National Electricity Market is the centerpiece of the Australian restructured electricity industry. It is a spot market in which prices are determined on a five-minute basis but half-hour averages are used for commercial transactions. The five-minute prices are broadcast to participants so that they can respond while the prices are still avoidable. An approximate form of nodal pricing is used. This market has proved to be an effective design in terms of competition between generators, but… CONTINUE READING