Energy-only markets are prone to the Resource Adequacy problem, i.e. the timely entry of new plant. The reason for this is that competitive energy-only markets struggle to be remunerative given reliability constraints and market price caps. Historically, Australia's 45,000 MW National...

Deregulated energy markets were founded on the Merchant Power Producer, a stand-alone generator that sold its production to the spot and short-term forward markets, underpinned by long-dated project finance. The initial enthusiasm that existed for investment in existing and new merchant power...

type="main" xml:lang="en" <title type="main">Abstract</title> <p>Australia has a deregulated national wholesale electricity market, a national network regulatory framework, but inconsistent state-based regulated retail price caps in workably competitive markets. This article finds that asymmetric information and the...</p>

"Electricity generators accept that emissions trading is fundamental to meeting CO₂ reduction targets. But unless a percentage of permits are allocated, existing generators will face non-trivial wealth transfers. Seldom contemplated in academic works are the adverse economic consequences of an...

Purpose – This paper aims to present a multi-period dynamic power project financing model to produce pragmatic estimates of benchmark wholesale power prices based on the principles of normal profit. This, in turn, can guide policymakers as to whether price spikes or bidding above marginal cost...