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2022 | OriginalPaper | Buchkapitel

Have Competitive Electricity Markets Rewarded Flexible Gas-Powered Generation? Australia’s Lessons for ASEAN

verfasst von : Xunpeng Shi, Lequan Zhang, Keying Wang, Wen Chen, Han Phoumin

Erschienen in: Revisiting Electricity Market Reforms

Verlag: Springer Nature Singapore

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Abstract

The presence of a competitive electricity market, which allows high prices to reflect generation shortage, is often assumed to be a beneficiary factor for gas-powered generation, but the actual impact of a competitive electricity market on gas generation is yet to be examined. Using Australian daily gas and electricity data, this paper investigates whether Australia’s competitive electricity markets have promoted the development of gas power generation (GPG). Considering the significant renewable energy penetration and increasing GPG in Australia and Australia’s highly transparent competitive electricity market, the Australian case offers future scenarios that developing countries may face. The empirical tests fully support the hypothesis, namely GPG is negatively related to generation from VREs and positively related to electricity demand gap and electricity price. The findings suggest that ASEAN should boost gas use, continue electricity market liberalisation and regional electricity market integration.

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Fußnoten
1
Due to the distance between networks, Western Australia and the Northern Territory are not connected to NEM. They have their own electricity systems and separate regulatory arrangements.
 
2
The other two jurisdictions were not included because the Australian Capital Territory is a part of the NSW electricity market while the proportion of the GPG in Tasmania is very small.
 
3
The fuel sources include black coal, brown coal, gas, wind, hydro, solar, biomass, battery, and liquid fuel.
 
4
The daily electricity demand gap is the difference between the potential electricity demand and the real electricity demand, which can be estimated by the HP filter method.
 
Literatur
Zurück zum Zitat AEMO (2021). 2021 Gas Statement of Opportunities AEMO (2021). 2021 Gas Statement of Opportunities
Zurück zum Zitat Australian Energy Market Operator (AEMO) (2010) An introduction to Australia’s national electricity market. Energy Market Authority, Singapore Australian Energy Market Operator (AEMO) (2010) An introduction to Australia’s national electricity market. Energy Market Authority, Singapore
Zurück zum Zitat Australian Energy Regulator (AER) (2021) State of the energy market 2021. Australian Competition and Consumer Commission, Melbourne Australian Energy Regulator (AER) (2021) State of the energy market 2021. Australian Competition and Consumer Commission, Melbourne
Zurück zum Zitat Han P, Kimura S (2021) Energy outlook and energy saving potential in East Asia 2020. Economic Research Institute for ASEAN and East Asia, Jakarta Han P, Kimura S (2021) Energy outlook and energy saving potential in East Asia 2020. Economic Research Institute for ASEAN and East Asia, Jakarta
Zurück zum Zitat IRENA (2018) Renewable energy market analysis: Southeast Asia. IRENA, Abu Dhabi IRENA (2018) Renewable energy market analysis: Southeast Asia. IRENA, Abu Dhabi
Zurück zum Zitat The Guardian (2020) Why is Australia building a $600 m gas power plant as world experts warn against fossil fuels? The Guardian The Guardian (2020) Why is Australia building a $600 m gas power plant as world experts warn against fossil fuels? The Guardian
Metadaten
Titel
Have Competitive Electricity Markets Rewarded Flexible Gas-Powered Generation? Australia’s Lessons for ASEAN
verfasst von
Xunpeng Shi
Lequan Zhang
Keying Wang
Wen Chen
Han Phoumin
Copyright-Jahr
2022
Verlag
Springer Nature Singapore
DOI
https://doi.org/10.1007/978-981-19-4266-2_9