MEInetwork21 seminar #3: Wholesale markets
Want to know how the NEM wholesale spot market works?
The National Electricity Market (NEM) revolves around a wholesale spot market that operates 24/7, continually matching supply to demand and setting the price of electricity every 5 minutes. These outcomes flow through to the forward price of electricity, which ultimately plays a large role in determining the size of your electricity bill.
If you want to know more about how the wholesale market works, you have a choice. You can read 1700 pages of arcane National Electricity Rules. Or alternatively you can attend this session which will explain the key features of the market, how electricity is balanced in real time, and delve into the impact of renewables and what drives electricity prices.
The Energy Systems Seminar Series is part of MEInetwork21, a skills and education program developed by the Melbourne Energy Institute.
Group Manager Market Insights
Australian Energy Market Operator
Paul Austin is the Group Manager Market Insights at the Australian Energy Market Operator (AEMO) and his role covers all aspects of energy markets from market operations, to production of the Quarterly Energy Dynamics report, to working with the Energy Security Board on market reform.
Prior to joining AEMO Paul held a variety of wholesale and retail market roles at EnergyAustralia and AGL, extending back to the commencement of the electricity and gas markets.
He is a mathematician by training, and holds a Masters from the London School of Economics and an MBA from Melbourne Business School.
Enterprise Senior Fellow and Project Manager
Melbourne Energy Institute, The University of Melbourne
Date: Thursday 19 August 2021
Time: 1.00pm - 2.00pm AEST (note changed time)