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  • Missing money, missing policy and Resource Adequacy in Australia's National Electricity Market

    Author(s)
    Simshauser, Paul
    Griffith University Author(s)
    Simshauser, Paul E.
    Year published
    2019
    Metadata
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    Abstract
    From 2012 to 2017, 5000 MW of coal plant exited Australia's National Electricity Market (NEM) with an average notice period of just 5.2 months. Exit at-scale peaked just as imbalances in the market for natural gas emerged along with Renewable Energy entry lags due to policy discontinuity. By 2016–2017, the culmination of events produced more than 20 Lack of Reserve notices, two blackouts including a black system event, and forward prices at record levels. These conditions are traced to policy decisions a decade earlier. Lessons for other energy markets undergoing transformation include transparency over exit decisions, policy ...
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    From 2012 to 2017, 5000 MW of coal plant exited Australia's National Electricity Market (NEM) with an average notice period of just 5.2 months. Exit at-scale peaked just as imbalances in the market for natural gas emerged along with Renewable Energy entry lags due to policy discontinuity. By 2016–2017, the culmination of events produced more than 20 Lack of Reserve notices, two blackouts including a black system event, and forward prices at record levels. These conditions are traced to policy decisions a decade earlier. Lessons for other energy markets undergoing transformation include transparency over exit decisions, policy stability and limits to gas export capacity.
    View less >
    Journal Title
    Utilities Policy
    Volume
    60
    DOI
    https://doi.org/10.1016/j.jup.2019.100936
    Subject
    Policy and Administration
    Publication URI
    http://hdl.handle.net/10072/386720
    Collection
    • Journal articles

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