Energy Efficiency Economics & Markets

Analysis of Bidding Behaviour of Generators

Client: confidential

This study was aimed at exploring the underlying factors responsible for variations in pool price of the NEM. A key factor was considered to be the bidding behaviour of the generators on the basis of their technical, operational and financial attributes. EnergyConsult developed a database that comprised of one-year half hourly bidding history of 200 generating units in Australia's competitive electricity market. The results demonstrated that representative supply curves of generators could be produced at season, time-of-day, and type of day levels. These representative supply curves were then used as inputs into various electricity market simulators to forecast market behaviour.