This unit examines Australian power markets. The unit describes the establishment and development of the national physical electricity market in Australia, and the resultant development of a financial market to manage the risks faced by its participants. The different financial market products available are described, along with their use and applications. This unit includes an exploration of Australia’s gas and environmental markets. It also examines changes occurring in the local power industry, pricing benchmarks and trading, and
the impact of renewables.
The unit covers the following three topics:
1. The National Electricity Market
2. Managing risks in the National Electricity Market
3. Environmental and gas markets