MEInetwork24 Seminar #3: Wholesale Markets

HYBRID EVENT

The Melbourne Energy Institute invites you to it's third seminar for 2024, presented by Mr Paul Austin, Group Manager Reform Delivery, Australian Energy Market Operator (AEMO).

Paul's presentation will provide an overview of the National Electricity Market (NEM) wholesale market, focusing on several key aspects. He will explain the process of bidding and dispatching electricity, which determines how electricity supply meets real-time demand. 

He will also cover Frequency Control Ancillary Services (FCAS), essential for maintaining system stability, and how constraints and locational pricing influence electricity flow and costs. Additionally, the interaction between the spot market, where electricity is traded for immediate delivery, and the contract market, used for hedging against price volatility. 

Finally, he will address how wholesale prices impact retail electricity prices, affecting consumers directly.

SPEAKER:

Mr Paul Austin, Group Manager Reform Delivery, Australian Energy Market Operator (AEMO)

Paul is a GM in the Reform Delivery division of AEMO responsible for working on major market reforms such as the Capacity Mechanism and Transmission Access Reform. Prior to this role he was responsible for market monitoring at AEMO and for establishing the Quarterly Energy Dynamics report.

Before joining AEMO Paul held various senior positions at both AGL and EnergyAustralia covering portfolio optimisation, forecasting and pricing, risk management and finance.

Paul is a mathematician by training and holds a Masters in Operations Research from the London School of Economics and a MBA from Melbourne Business School.

MODERATOR:

A/Prof David Keith
Associate Professor of Strategy at Melbourne Business School (MBS) &
Associate Director - Innovation and Sustainability in MBS Centre for Sustainability and Business

David is a leading researcher on the future of the automotive industry, exploring topics including consumer preferences for car ownership, EV adoption, and shared use; the dynamics of fleet turnover; platform competition in on-demand markets; and the development of robust EV charging infrastructure. Prior to joining MBS, David spent 9 years on the Faculty of the MIT Sloan School of Management, was co-founder and CEO of EV charging infrastructure financing platform Mobilyze.ai (acquired by FreeWire Technologies), has been a consultant to most global automakers, and worked in Product Planning for General Motors Holden.