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Does Pacific Power Have Market Power

Industry Commission research report

This Industry Commission research report was released in July 1996. The report resulted from an Industry Commission study into the implications for the national electricity market of NSW generation options.

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Contents

Preliminaries
Cover, Copyright, Contents, Abbreviations, Terms of Reference, Executive Summary

1   Introduction
1.1   Background to this project
1.2   Public participation in this project
1.3   Report structure

2   Reform of the Electricity Supply Industry
2.1   Early development
2.2   Processes of reform
2.3   The benefits of reform

3   The National Electricity Market
3.1   Characteristics of electricity
3.2   Development of a national market
3.3   Major market participants

4   Pacific Power: What Scope for Market Power?
4.1   Introduction
4.2   Defining the relevant market
4.3   Indicators of market power
4.4   Assessment of market power

5   Exploiting Market Power
5.1   Balancing capacity and demand in the electricity market
5.2   Some key features of the market
5.3   How might generators behave in the presence of market power?
5.4   Results of economic modelling
5.5   The costs of market power
5.6   Assessment of the consequences of market power

6   Options for Addressing Market Power
6.1   Regulatory action
6.2   Increasing the capacity of the interconnections
6.3   Disaggregation
6.4   Summing up

APPENDICES

A   Ministerial Correspondence

B   Participation in the Inquiry

C   Economies of Scale and Scope

D   How Long Will the Excess Generating Capacity Last?

References

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