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Market integration with energy-only markets and renewables: lessons of experience from Australia

Journal Article


Abstract


  • The establishment of wholesale

    electricity markets has been one

    of the hallmarks of the marketoriented electricity sector reforms

    and restructuring process that started

    in the early 1990s. The standard

    model of liberalization included the

    establishment of wholesale and retail

    competition, vertical separation of the

    distinct generation, network, and retail

    activities, and incentive regulation of

    electricity networks. A fuller physical

    and financial integration of the

    separate national or regional electricity

    markets was then required to enable a

    deepening of competition. For example

    in the EU, the process of creating a

    common and integrated wholesale

    market for electricity that started in

    the second half of the 1990s, remains

    a work in progress, while Australia

    has, since 1998, focused on creating

    an efficient and integrated National

    Electricity Market (NEM).

Publication Date


  • 2016

Citation


  • Nepal, R. & Jamasb, T. (2016). Market integration with energy-only markets and renewables: lessons of experience from Australia. Oxford Energy Forum, (102), 14-16.

Number Of Pages


  • 2

Start Page


  • 14

End Page


  • 16

Issue


  • 102

Place Of Publication


  • United Kingdom

Abstract


  • The establishment of wholesale

    electricity markets has been one

    of the hallmarks of the marketoriented electricity sector reforms

    and restructuring process that started

    in the early 1990s. The standard

    model of liberalization included the

    establishment of wholesale and retail

    competition, vertical separation of the

    distinct generation, network, and retail

    activities, and incentive regulation of

    electricity networks. A fuller physical

    and financial integration of the

    separate national or regional electricity

    markets was then required to enable a

    deepening of competition. For example

    in the EU, the process of creating a

    common and integrated wholesale

    market for electricity that started in

    the second half of the 1990s, remains

    a work in progress, while Australia

    has, since 1998, focused on creating

    an efficient and integrated National

    Electricity Market (NEM).

Publication Date


  • 2016

Citation


  • Nepal, R. & Jamasb, T. (2016). Market integration with energy-only markets and renewables: lessons of experience from Australia. Oxford Energy Forum, (102), 14-16.

Number Of Pages


  • 2

Start Page


  • 14

End Page


  • 16

Issue


  • 102

Place Of Publication


  • United Kingdom