Comments on the International Comparison of Electricity Markets and Market Power Mitigation

Comparison of market design, implementation and market power mitigation is made difficult because the practical outcomes depend on the fine detail of market design, the governance and regulatory framework, the resource portfolio available to the industry, the nature and pace of demand growth, and the morality and robustness of the society. This panel contribution considers competitive electricity industry design from a decision-making perspective. It defines market power in a broad manner and then assesses the robustness of the Australian competitive electricity industry design to the exercise of market power.