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Have Competitive Electricity Markets Rewarded Flexible Gas-Powered Generation? Australia’s Lessons for ASEAN

In: Revisiting Electricity Market Reforms

Author

Listed:
  • Xunpeng Shi

    (University of Technology Sydney)

  • Lequan Zhang

    (Hubei University of Economics)

  • Keying Wang

    (Hubei University of Economics
    Zhongnan University of Economics and Law)

  • Wen Chen

    (The University of Sydney)

  • Han Phoumin

    (Economic Research Institute for ASEAN and East Asia)

Abstract

The presence of a competitive electricity market, which allows high prices to reflect generation shortage, is often assumed to be a beneficiary factor for gas-powered generation, but the actual impact of a competitive electricity market on gas generation is yet to be examined. Using Australian daily gas and electricity data, this paper investigates whether Australia’s competitive electricity markets have promoted the development of gas power generation (GPG). Considering the significant renewable energy penetration and increasing GPG in Australia and Australia’s highly transparent competitive electricity market, the Australian case offers future scenarios that developing countries may face. The empirical tests fully support the hypothesis, namely GPG is negatively related to generation from VREs and positively related to electricity demand gap and electricity price. The findings suggest that ASEAN should boost gas use, continue electricity market liberalisation and regional electricity market integration.

Suggested Citation

  • Xunpeng Shi & Lequan Zhang & Keying Wang & Wen Chen & Han Phoumin, 2022. "Have Competitive Electricity Markets Rewarded Flexible Gas-Powered Generation? Australia’s Lessons for ASEAN," Springer Books, in: Han Phoumin & Rabindra Nepal & Fukunari Kimura & Gazi Salah Uddin & Farhad Taghizadeh-Hesary (ed.), Revisiting Electricity Market Reforms, pages 207-233, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-4266-2_9
    DOI: 10.1007/978-981-19-4266-2_9
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