Electricity Articles
The Program for Research in Energy and Emissions Markets (PREEM) at the University of Technology, Sydney aims to develop models and quantitative tools for unified pricing and risk management platforms of energy and environmental markets. It will also work towards the development and introduction of prudential standards for Energy Markets (similar to Basel for Banking and Finance). PREEM will bring together UTS scholars from the School of Mathematical Sciences, Faculty of Science, and School of Finance and Economics, Faculty of Business to work alongside with their domestic and overseas partners.
Upcoming Events:
8th April 2011 – Valuing Power Plants with Spark Spread Options
Recent Events:
22nd March 2011 - Optimization at Work: From Market Design for Emission Trading Schemes towards Robust Risk Measures (Prof. Hans-Jakob Lüthi)
9th March 2011 – Inaugural Seminar – An Industry Prospective
Note that TTA is currently hosting PREEM web postings and email notifications on a temporary basis until University resources are set up to do this.
On the 9th of March, 2011, over 100 people from the energy industry and academia gathered to launch the Program for Research in Energy and Emissions Markets (PREEM) at University of Technology, Sydney.
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A new Program for Research in Energy and Emissions Markets has been established by the University of Technology, Sydney (UTS). This Program aims to create links between the University and the energy industry via short courses, seminars and postgraduate research. The Program runs within the University’s Quantitative Finance Research Centre (QFRC).
In order to mark the establishment of this Program, the QFRC is inviting industry participants, academics and others to its inaugural seminar ’An Energy Industry Prospective’ on Wednesday, the 9th of March. Confirmed speakers from the industry include Professor Paul Simshauser (Chief Economist & Group Head of Corporate Affairs, AGL Energy Limited), Ben Vanderwaal (Managing Director, ROAM Consulting Pty Ltd) and Dean Price (General Manager, d-cyphaTrade).
More information can be found at http://www.qfrc.uts.edu.au/energy/prospective.html
To RSVP, please contact Caroline Dobson, Ph. 9514 774
Trading Technology Australia is proud to support this Program.
The ACCC today announced that they would not block bids by AGL or Origin Energy for assets under the NSW Energy Reform program. In its statement, the commission proposes several combinations of bids that it would not oppose for AGL or Origin Energy separately.
Origin Energy are cleared to purchase:
- EnergyAustralia;
- Country Energy;
- Integral Energy; or
- both Country Energy and Integral Energy
together with one of the Eraring, Delta Coastal or Delta Western gentrader bundles and one of the generator development sites.
The ACCC also announced that it would not oppose the acquisitions by AGL of Country Energy or Integral Energy together with one of the Eraring, Delta Coastal or Delta Western Gentrader bundles and one or more of the generator development sites.
The ruling makes no mention of Gentrader contracts for Macquarie Generation’s capacity. Yesterday The Australian reported that “…none of the main bidders – AGL Energy, Origin Energy or CLP Holdings’ TRUenergy – lodged bids for the right to trade output from the Macquarie Generation plants.”
The NSW Treasurer has clarified the roll-off dates for the Electricity Tariff Equalisation Fund (ETEF) in an amendment to the payment rules. The start and end dates of the phase-out have not been revised again since the last announcement. There will be reductions in the coverage of the regulated load by 20% each on 4 Jul 2010, 3 Oct 2010, 2 Jan 2011 and 3 Apr 2011. On 1 Jul 2011 ETEF will be completely phased out.
As part of its latest electricity privatisation plan, the NSW Government has again extended the Electricity Tariff Equalisation Scheme (ETEF).
The latest plan has ETEF being phased out between 1 July 2010 and 30 June 2011, with a quarterly 20% roll-off. The exact dates of the roll-offs have not been specified.
Most recently, ETEF was set to run until June 2010, although the end of the scheme was left open-ended.
The NSW Government has re-announced its electricity sale plans with some updates. While the ‘International Market Testing Update’ planned for expressions of interest in July / August, the new plan now sets the date from late September until mid-November 2009.
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Energy Minister Ian MacDonald has announced interim exemptions for emissions intensive, trade exposed (EITE) industries under the Energy savings Scheme (ESS). The Interim Exemptions Order, to be revoked on 31 December 2009, lists a number of NSW-based industries that qualify for the partial exemption of either 60% or 90% of total load. Retailers can deduct 5% of this exempted load from their overall ESS obligations.
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It was announced today that the NSW Treasurer (in consultation with the Minister for Energy) has cancelled the scheduled September 2009 and March 2010 Electricity Tariff Equalisation Fund (ETEF) roll-offs. ETEF will now remain fully in force until 30 June 2010. The announcement was made in a special supplement to the NSW Government Gazette for 10th July 2009
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In Darwin yesterday, the Council of Australian Governments (COAG) signed the National Partnership Agreement on Energy Efficiency. The package aims to deliver ‘a nationally-consistent and cooperative approach to energy efficiency’ and includes:
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