nazar-noteonprice-2009.pdf (431.95 kB)
A note on price volatility in the Australian electricity market
journal contribution
posted on 2009-01-01, 00:00 authored by Celia Conticini, Jerzy A Filar, Asef Nazari GanjehlouEfficiency in electricity transmission has been a worldwide `hot topic' for more than ten years and has led to reforms in many countries. However, the performance of the restructured electricity markets is often questioned since it depends, to a large extent, on the way market participants collectively respond to market rules and procedures. We examine data from Australia's National Electricity Market with emphasis on variability in spot prices. These data indicate that the structure of electricity generators' bidding offers may be one of the important contributors to the volatility in electricity prices. A scheme for reducing the volatility of spot prices is then proposed in the form of new regulations on the structure of generators' electricity price and volume bids.
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ANZIAM JournalVolume
51Pagination
730 - 746Publisher
Australian Mathematical SocietyLocation
Canberra, A.C.T.Publisher DOI
eISSN
1445-8810Language
engPublication classification
C1.1 Refereed article in a scholarly journalUsage metrics
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