Effective energy purchasing Electricity

Size: px
Start display at page:

Download "Effective energy purchasing Electricity"

Transcription

1 Research by NSW Farmers indicates that many farmers have not negotiated the best possible electricity contracts for their operations. Electricity bills are comprised of various charges, some of which are negotiable. The timing of going to market and taking a professional approach to contract development are also significant factors. Effective contract negotiation depends on acquiring a sound working knowledge of electricity market dynamics, the factors that determine pricing, and the terms retailers are likely to accept for a given property and time period. Getting a better power deal This paper aims to explain electricity pricing, what is negotiable in electricity contracts, and strategies for negotiating the best deal on your power. It also provides information on minimising non-negotiable costs. Due to a general fall in electricity prices, many farmers will see a reduction in standard offers when they next go to market. However, it is likely that further reductions can be arrived at through smart negotiation, good timing and the selection of optimal contract configurations. Understanding the electricity market (and the economic factors that determine the deals retailers are prepared to offer on a given day) places you in a stronger negotiating position. Why prices fluctuate The cost of electricity in NSW has increased by percent in the past three to five years, largely due to increases in network and environmental charges. Electricity commodity prices as opposed to overall electricity costs that include network, carbon and other charges have been decreasing since , when annual demand peaked. Since then, demand has fallen at an annual rate of approximately 1.2 percent. The medium-term future is still relatively subdued, with declining demand only expected to return to previous highs during It seems that the current low demand for electricity has reduced the occurrence of expensive wholesale pricing even during heatwave conditions. NSW electricity spot market prices are forecast to drop by about 26 percent between and This is in line with the predicted drop in demand and anticipated repeal of the carbon price (NERA economic consulting, 2013). Bulk electricity is a unique commodity in that it can t be stored cost-effectively and must be used immediately once generated. Price drivers of supply and demand are accentuated in these circumstances. Electricity retailers purchase energy from generators to cover their customers load demand at all times. Generated electricity is therefore bought and sold 24/7. When demand increases dramatically, prices in the spot market (where retailers buy wholesale electricity) can spike sharply. While the Negotiation tips 1. Maximise retailer participation. Keep things simple and involve your retailer in planning the contract renewal or tender. 2. Provide detailed and accurate data, including information about farm expansion and/or changes in stock, crop(s) or the proposed mix of activities, where known. Retailers need to evaluate your demand profile. Unforeseen demand costs them money and they will pass that risk on to your operation in the form of higher charges. 3. Don t include unreasonable requests. You will pay for everything you ask for in the contract. 4. Keep to the contract negotiation timetable. That way, you minimise risk for retailers they are costing your deal on the basis of projections made within a particular time window. 5. Be ready to make a quick decision. Prepare for internal sign-off once the contract is offered (24 hours is best). independent market operator (AEMO) is responsible for ensuring that the required demand is satisfied at the cheapest possible prices, the extent of such demand often impacts short-term or spot market prices dramatically. Small users, drawing less than 160 MWh of electrical power per annum, are subject to local tariffs regulated on an annual basis; thus, they are not impacted by changes in spot prices. Role of spot market and futures market prices When entering into retail customer contracts for fixed terms and prices, electricity retailers manage the risk of a floating and potentially volatile spot market price by charging a premium. Retail electricity contract pricing is therefore higher than the prices available on the wholesale spot market, as it includes a retailer margin for managing risk. Even though the spot market is a short-term market reflecting immediate supply and demand, it also impacts the longer-term pricing offered by retailers. This means that often, it is advantageous to go to market in periods of lower spot market Page 1 of 6

2 pricing, even though your electricity contract may run for many years into the future. To help mitigate or hedge against longer-term price risk, retailers and generators often enter into electricity futures or forward contracts (i.e. contracts, set at a certain price, for the buying or selling of electricity at a future date). When the designated date arrives, the difference between the spot market and the agreed-on or purchased futures contract is settled between the retailer and generator. The futures market thus becomes a proxy for what traders from the retailers and generators believe the electricity spot price will be at a future date. Electricity futures prices for financial or calendar years can be viewed on the futures exchange by accessing the ASX electricity futures website (Australian Stock Exchange, 2013). Many drivers impact the wholesale short-term spot price, the longer-term futures market and, ultimately, the contract electricity price offered by a retailer on a particular day. These may include: weather, e.g. the risk of high temperatures and seasonal change, rainfall and water storage in dams, e.g. the amount of water available for making steam and cooling turbines, generator fuel input prices, e.g. coal and gas prices, generation mix using a higher level of non-coal fuels will be expensive, and government regulation, e.g. the carbon price, the cost of generators. The NSW Wholesale Electricity Futures market s response to regulatory announcements in the recent past specifically, to changes in carbon legislation between 2009 and 2011 is illustrated below. Futures pricing is inclusive of carbon, so the more likely it seemed that a carbon scheme would eventuate, the higher the futures price became. To illustrate the effect of carbon price futures in Financial Year 2012/13 (Fin13), a dotted line indicating an estimate of the futures price without carbon has been added to the graph. This shows that traders were factoring in a carbon cost of around $20 or two cents per kilowatt hour from the time of formal announcements in Drivers of spot and futures market prices The wholesale spot and futures price response to key drivers will be determined by their impact on supply and demand. For example, prices may increase where supply is reduced, such as when a generator goes offline or is phased out; they may decrease in a global recession when demand for electricity to produce goods lessens. Human factors, such as the buying and selling behaviour of electricity traders, may also influence the extent of the market s response to underlying fundamentals. What is negotiable in my electricity contract? When looking at your overall energy costs, you ll find that only some portions are available for negotiation. The graph below shows a typical electricity-cost split for a farmer in country NSW and identifies the negotiable components. Figure 2: Typical electricity cost components for NSW farms in Although only 38 percent of electricity costs are negotiable, it pays to spend the most effort on the cost items over which you have the most negotiable control. These are: energy, environmental charges, and metering charges. Energy charges The contract price you receive from a retailer may fluctuate depending on the day you go to market and the price drivers in play at that time. Negotiations may also be significantly affected by the duration of your contract, as well as the accuracy and attractiveness of your electrical load to the retailer. A peaky or inconsistent load will be less attractive to the retailer unless it s a significant volume of electricity or gas. Strategies to consider when negotiating the best energy price are discussed below. Environmental charges Figure 1: NSW Wholesale Electricity Futures Prices and the impacts of carbon legislation issues Environmental charges are typically based on retailer or generator compliance with government schemes designed to increase efficiency or reduce greenhouse gas (GHG) emissions - eg The Renewable Energy Target (RET) charge designed to support R&D into renewable energy sources for agriculture Page 2 of 6

3 and other industries. Environmental charges often involve the surrender of certificates by the retailer which has an obligation to acquit enough certificates to cover it sold energy. The retailer then passes this cost on to end users, proportional to their energy usage. Many consumers don t realise that environmental charges are contestable and in many cases will vary significantly from retailer to retailer. It is worth checking the rates before contracting and also looking at ways to control cost, for example, agreeing to fix certificate prices with your retailer so that you have more budget certainty. Metering charges Negotiating a metering contract can be important if the farm has a number of meters. Each retailer has a preferred metering supplier and if you elect to go with that preferred supplier you will avoid an administration fee. The best strategy is to find out the fee and see if you can negotiate a cheaper deal covering your own direct metering contract with another supplier plus the administration fee. Carbon charges Until the carbon tax is repealed, regulations driving the price on carbon will remain in force (at least until 30 June 2014). In previous years, many retailers offered carbon inclusive pricing which means that the carbon price is not only incorporated into their energy rates, but also that the rates will apply even if the carbon price is repealed. In recent times, the carbon-inclusive price had become very competitive as the included carbon component was low, based on expectations that the carbon tax would be repealed. However, given the Government s intent to repeal the carbon price legislation it is potentially risky to opt for a carbon inclusive contract that extends beyond July If your current contract is carbon-inclusive and there is no separate carbon cost line on your bill, it may be prudent to check the contract expiry date and the clause in your electricity contract that relates to carbon (with respect to what happens if the price is repealed or changed). Where a contract is carbon-inclusive, the electricity rate will include the cost of carbon and will appear as a single fixed-rate figure on your bill. This rate will vary depending on what value of carbon is implied by your retailer for a particular time frame in the future and this value is then applied to your contract. The alternative carbon-exclusive contract has electricity rates that do not include an implied carbon value but rather, carbon is an additional pass-through cost. Typically, the carbon passthrough cost under existing contracts will be calculated by the retailer, using a carbon intensity factor published by AEMO multiplied by the current carbon price. The carbon intensity factor represents a calculation by AEMO of the carbon intensity of the generated electricity that day. This will vary according to generation mix, and the extent to which loweremission or less carbon-intensive generation of power from renewable sources or gas has been dispatched. For example, under a carbon-exclusive contract for a given month, a retailer may apply the average carbon intensity (ACI) for the month to the carbon price. ACI x carbon price (e.g. $24.15/MWh in ) = pass-through carbon charge. If, in October, the ACI is 0.85 (Australian energy market operator, 2013) the charge is calculated as: 0.85 x $24.15 = $20.52/MWh or 2.05 c/kwh Carbon charges are also discussed below in relation to strategies for getting the best prices. Purchasing strategies Going to market at the right time One of the key challenges for all purchasers of energy is deciding when to go to market. Given that there is a futures market in operation, it is neither necessary nor advantageous to wait until close to your contract s expiry date to start your purchasing exercise. Naturally, not everyone is watching the market every day. Owing to fluctuation in prices over any given year, it is well worth investing the time to request offers on a lower-priced day or when market prices are in a downtrend. To do this, you ll need to have market price information. A number of free websites can deliver information on electricity futures and spot market prices. ASX (Australian Stock Exchange, 2013) and AEMO (Australian energy market operator, 2013) as well as D-cypha trade are the primary sources of this valuable information. Contracting for the best duration Contract duration should always be considered when going to market. If you re unsure about the direction of the longer-term market, requesting pricing for, say, the next four or five years will help show you what the retailers believe. Note, however, that retailers typically build a duration-based risk margin into outer-year pricing. The underlying philosophy is that the further away the pricing is, the less certain retailers can be about what the actual electricity prices will be. To determine the best contract duration, compare the prices retailers offer you with the electricity futures available, and consider these in light of any major price driver impacts and Page 3 of 6

4 Following these strategies when negotiating your next electricity contract should deliver cost advantages and make your energy purchasing significantly more effective. Chart 1: Time-of-use electricity pricing. Minimising non-negotiable costs Network charges pricing trends. In a steadily rising market it would not be uncommon to opt for a longer contract. In a flat or decreasing market, it may be better to secure a shorter contract, with the aim of buying electricity at a cheaper rate in the future. In 2013, for example, the NSW market was low and electricity commodity prices were close to experiencing five-year lows. Owing to uncertainty about government policy with respect to carbon and the volatile international economy, however, retailers were building risk margins into long-dated contracts. At such times, large-scale electricity users often consider limiting their exposure to these risk premiums by opting for two- or even one-year contracts. Making your contract attractive Retailers are risk-averse, or at least they will build premiums into their pricing to cover risk. So it is important that you make sure your prospective contract is as low-risk and as attractive to retailers as possible. It is also important to contact as many retailers as possible so as to get a truly competitive price. To make your contract appealing: Provide an accurate picture of your consumption. The more electricity you use, the more important it is to request accurate meter usage data from your current retailer. Customers that produce meter data along with their request for a proposal are presenting an accurate history of their electricity usage for each half-hour period over 12 months. This gives the retailer an excellent understanding of how much electricity your farm uses in each time band of peak, shoulder and off-peak power. The better appraised retailers are of your usage patterns, the less risk premium for load fluctuation they need to build into their pricing. Shift electricity usage to off-peak load. Retailers like contracts in which the power load is steady and predictable and often, they prefer greater load in offpeak periods when the market is less likely to be volatile. Where possible, it is advisable to shift your load to offpeak times and take action to smooth out any spikes in demand. Network costs constitute approximately 60 percent of electricity cost. This component is non-negotiable and is determined by your location. This means that the rates are set for your area. Often, however, there are two or more tariffs available, so the trick is to be on the best network tariff for your area and to optimise consumption to match that tariff. The two main tariff types are time-of-use and demandbased. In country NSW there is also a tariff that is both time-of-use and demand-based. Many farmers are on this tariff and unfortunately, may have little choice in terms of switching to another tariff. If you do not have access to a better electricity tariff, your easiest option for reducing costs is to optimise power consumption to match the lower rates. For the time-of-use component of the tariff, power is cheaper at off-peak and shoulder times (see figure for an example of time-of-use periods) consider switching or shifting power-guzzling activities to off-peak and/or shoulder times where possible. The demand component of the contract is determined either by your highest demand for electricity during the past 12 months or your highest demand at particular times of use so a single high-demand event could have a big cost impact. Strategies for reducing maximum demand might include: Avoid starting up lots of energy-intensive electrical equipment at the same time, as more power is consumed during start-up than during operation. Consider whether your load could be shifted, say, by running machinery in isolation rather than concurrently. Examine power factor correction, meaning that usable power has been maximised relative to the amount of power that is paid for through your meter. This is further discussed in a separate NSW Farmers fact sheet. Essential Energy (Formerly Country Energy) has a tariff analysis service that can help you to identify the optimal tariff for your farm. To access the service, call the energyanswers team on 1800 ENERGY ( ) or Switching fuels One way of reducing non-negotiable cost is to use less energy from the network by switching to renewable or alternative Page 4 of 6

5 energy sources such as solar generation. In this regard, it is worth investigating the suitability of power purchase agreements for your property. See NSW Farmers fact sheets on renewable energy options. Power purchase agreements Despite the withdrawal by the NSW Government of feed-in tariffs (i.e. payment for feeding energy into the network), attractive solar photovoltaic (PV) deals are still available in the market under power purchase agreements. Under this model, suppliers/installers typically agree to install a solar array and maintain it. To pay off the equipment, the user simply purchases the solar electricity created directly from the installer until both installation and equipment is paid off. This means that potentially, the up-front costs are zero. The Australian Energy Market Operator (AEMO) AEMO s site has regularly updated power pricing and demand information on energy sources including electricity and natural gas within Australia. The Australian Energy Regulator For Consumers Information about consumer rights with regard to energy purchasing. This kind of power purchase agreement is behind the meter and therefore no network charges are due, as all the electricity generated is used on-site. The longer the duration of the agreement, the lower your electricity price becomes. Most such deals will be cost-competitive with energy from nonrenewable sources if the deal duration is more than 10 years. As with a traditional fossil fuel power agreement, it pays to shop around for the best deal available. It is also prudent to source and research reputable providers of proven equipment. There is a risk that demand charges may not be reduced if the load from a complementary renewable source is not cocoincident with peak demand (e.g. one cloudy day could negate the impact of a solar PV system on the peak demand of your site. Refer to supplementary paper, Solar photovoltaics. It s important to note that your current electricity contract may have a minimum annual quantity, typically 90 percent of your contracted amount. So before implementing new major actions to reduce usage, through fuel switching or other means, consider the timing. If just you re about to enter into a new electricity contract, you should of course factor in reduced consumption and the timing of the change for example it might not occur or may not decrease your energy usage until the second year of the contract. Further information Farm Energy Innovation papers Energy in sheds: Power quality Power factor correction What is power factor? And how does it influence electricity purchasing and pricing? Energy in sheds: Power quality Voltage optimisation How voltage optimisation can improve delivered power quality and reduce existing demand. Other sources The Australian Power Market The Australian Stock Exchange website provides energy market pricing and details on market factors. asxenergy.com.au Page 5 of 6

6 References ABARE, Farm Costs and Returns Statistics, s.l.: Australian Bureau of Statistics. Hanna, M. & Ayres, G., Fuel Required for Field Operations. [Online] ublica ons M.pdf [Accessed August 2013]. Intelligent Energy Europe, Efficient20. [Online] efficient20.eu [Accessed August 2013]. Svejkovsky, C., Conserving Fuel on the Farm. [Online] attra.ncat.org/attra-pub/summaries/summary.php?pub=303 [Accessed 2013]. University of Nebraska-Lincoln, n.d. Nebraska Tractor Test Laboratory. [Online] tractortestlab.unl.edu [Accessed August 2013]. NSW Farm Energy Innovation Program NSW Farmers Association 2013 NSW Farmers gives no warranty regarding this publication s accuracy, completeness, currency or suitability for any particular purpose and to the extent permitted by law, does not accept any liability for loss or damages incurred as a result of reliance placed upon the content of this publication. This publication is provided on the basis that all persons accessing it undertake responsibility for assessing the relevance and accuracy of its content. The mention of any specific product in this paper is for example only and is not intended as an endorsement. This activity received funding from the Department of Industry as part of the Energy Efficiency Information Grants Program. The views expressed herein are not necessarily the views of the Commonwealth of Australia, and the Commonwealth does not accept responsibility for any information or advice contained herein. Head Office: Energy Info Line: Content produced with assistance from Energetics Page 6 of 6

Energy Procurement Practice Guide

Energy Procurement Practice Guide Carbonproof Energy Procurement Practice Guide The material provided in this guide has been produced in conjunction with our partner Energetics Pty Ltd. 2011 Energetics Pty Ltd and AgriFood Skills Australia.

More information

Energy Procurement Practice Guide

Energy Procurement Practice Guide EnergyProof Broadacre Energy Procurement Practice Guide 2013 AgriFood Skills Australia Ltd. All rights reserved This is an AgriFood Skills Australia Ltd project developed in partnership with Energetics

More information

2014 Residential Electricity Price Trends

2014 Residential Electricity Price Trends FINAL REPORT 2014 Residential Electricity Price Trends To COAG Energy Council 5 December 2014 Reference: EPR0040 2014 Residential Price Trends Inquiries Australian Energy Market Commission PO Box A2449

More information

Committee on the Northern Territory s Energy Future. Electricity Pricing Options. Submission from Power and Water Corporation

Committee on the Northern Territory s Energy Future. Electricity Pricing Options. Submission from Power and Water Corporation Committee on the Northern Territory s Energy Future Electricity Pricing Options Submission from Power and Water Corporation October 2014 Power and Water Corporation 1. INTRODUCTION On 21 August 2014, the

More information

Response to the Energy White Paper Issues Paper PREPARED BY EMC ENGINEERING FOR THE AUSTRALIAN GOVERNMENT DEPARTMENT OF INDUSTRY

Response to the Energy White Paper Issues Paper PREPARED BY EMC ENGINEERING FOR THE AUSTRALIAN GOVERNMENT DEPARTMENT OF INDUSTRY Response to the Energy White Paper Issues Paper PREPARED BY EMC ENGINEERING FOR THE AUSTRALIAN GOVERNMENT DEPARTMENT OF INDUSTRY i P a g e www.energym adeclean.com CONTENTS

More information

UNDERSTANDING ENERGY BILLS & TARRIFS

UNDERSTANDING ENERGY BILLS & TARRIFS UNDERSTANDING ENERGY BILLS & TARRIFS as part of the Energy Efficiency Information Grants Program Reading and understanding your energy and gas bills is a good first step to help you to identify where you

More information

Energy Productivity & Pricing

Energy Productivity & Pricing Energy Productivity & Pricing Markets for energy, renewable energy and carbon Dr Jenny Riesz February 2014 2 Average electricity retail prices Electricity price rises CSIRO Future Grid (2013) Change and

More information

NERA Analysis of Energy Supplier Margins

NERA Analysis of Energy Supplier Margins 7 December 2009 NERA Analysis of Energy Supplier Margins By Graham Shuttleworth Even though wholesale energy prices have fallen recently, gas and electricity suppliers are earning very little margin on

More information

Changes in regulated electricity prices from 1 July 2012

Changes in regulated electricity prices from 1 July 2012 Independent Pricing and Regulatory Tribunal FACT SHEET Changes in regulated electricity prices from 1 July 2012 Based on Draft Determination, 12 April 2012 The Independent Pricing and Regulatory Tribunal

More information

Guide to business gas purchasing for SMEs. Tomorrow's rates at today's prices. businessgas.com

Guide to business gas purchasing for SMEs. Tomorrow's rates at today's prices. businessgas.com Guide to business gas purchasing for SMEs BusinessGas.com businessgas.com 0800 157 7175 Helping you find the cheapest business gas rates This guide has been designed for anyone running a small or medium-sized

More information

Causes of residential electricity bill changes in Victoria, 1995 to 2014. prepared for: Victorian Electricity Distribution Businesses

Causes of residential electricity bill changes in Victoria, 1995 to 2014. prepared for: Victorian Electricity Distribution Businesses Causes of residential electricity bill changes in Victoria, 1995 to 2014 prepared for: Victorian Electricity Distribution Businesses DISCLAIMER This report has been prepared for the Victorian Electricity

More information

2013 Residential Electricity Price Trends

2013 Residential Electricity Price Trends FINAL REPORT 2013 Residential Electricity Price Trends 13 December 2013 Reference: EPR0036 Final Report Inquiries Australian Energy Market Commission PO Box A2449 Sydney South NSW 1235 E: aemc@aemc.gov.au

More information

NSW Electricity Network and Prices Inquiry. Final Report

NSW Electricity Network and Prices Inquiry. Final Report Final Report December 2010 Contents 1 Introduction and overview... 3 1.1 Current trends in electricity prices... 3 1.2 The drivers of price increases... 3 1.3 Summary of options for easing pressure on

More information

POLICY BRIEF: Renewable Energy and the Carbon Price Brief prepared for WWF- Australia

POLICY BRIEF: Renewable Energy and the Carbon Price Brief prepared for WWF- Australia REPUTEX ANALYTICS Brief prepared for WWF- REPORT SUMMARY This brief prepared by RepuTex and commissioned by WWF-, examines the relationship between the carbon price and renewable energy generation in.

More information

Changes in regulated electricity prices from 1 July 2012

Changes in regulated electricity prices from 1 July 2012 Independent Pricing and Regulatory Tribunal FACT SHEET Changes in regulated electricity prices from 1 July 2012 Based on Final Determination, 13 June 2012 The Independent Pricing and Regulatory Tribunal

More information

Western Australian Feed-In Tariff Discussion Paper

Western Australian Feed-In Tariff Discussion Paper Western Australian Feed-In Tariff Discussion Paper OVERVIEW In September 2008, the incoming State Government announced its intention to introduce a feed-in tariff as part of the Liberal Plan for Environmental

More information

ENERGY SAVINGS ACTION PLAN 2014 2018

ENERGY SAVINGS ACTION PLAN 2014 2018 Environment Unit ENERGY SAVINGS ACTION PLAN 2014 2018 LISA MILLER ENVIRONMENT MANAGER JOHN HAZELTON ENERGY & WATER SUSTAINABILITY PROJECTS ENGINEER FACILITIES MANAGEMENT DIVISION MAY 2014 APPROVED BY:

More information

Causes of residential electricity bill changes in Victoria, 1995 to 2013. prepared for: Victorian Electricity Distribution Businesses

Causes of residential electricity bill changes in Victoria, 1995 to 2013. prepared for: Victorian Electricity Distribution Businesses Causes of residential electricity bill changes in Victoria, 1995 to 2013 prepared for: Victorian Electricity Distribution Businesses DISCLAIMER This report has been prepared for the Victorian electricity

More information

Page 1 of 11. F u t u r e M e l b o u r n e C o m m i t t e e Agenda Item 7.1. Notice of Motion: Cr Wood, Renewable Energy Target 9 September 2014

Page 1 of 11. F u t u r e M e l b o u r n e C o m m i t t e e Agenda Item 7.1. Notice of Motion: Cr Wood, Renewable Energy Target 9 September 2014 Page 1 of 11 F u t u r e M e l b o u r n e C o m m i t t e e Agenda Item 7.1 Notice of Motion: Cr Wood, Renewable Energy Target 9 September 2014 Motion 1. That Council resolves that the Chair of the Environment

More information

Guide to managing commodity risk

Guide to managing commodity risk Guide to managing commodity risk October 2012 ISBN: 978-1-921742-33-0 CPA Australia Ltd ( CPA Australia ) is one of the world s largest accounting bodies representing more than 139,000 members of the financial,

More information

APRIL 2014 ELECTRICITY PRICES AND NETWORK COSTS

APRIL 2014 ELECTRICITY PRICES AND NETWORK COSTS APRIL 2014 ELECTRICITY PRICES AND NETWORK COSTS 1 WHAT MAKES UP THE RETAIL ELECTRICITY BILL? Retail electricity bills are made up of a number of components: Wholesale costs reflecting electricity generation

More information

Solar Power Frequently Asked Questions

Solar Power Frequently Asked Questions General information about solar power 1. How do I get solar power? Solar Power Frequently Asked Questions Many companies install solar power systems including some electricity retailers. It is worth comparing

More information

Report on impact of the Renewable Energy Target on power prices

Report on impact of the Renewable Energy Target on power prices Report on impact of the Renewable Energy Target on power prices This Report has been prepared for the REC Agents Association (RAA) a national industry association representing companies that create and

More information

FACT SHEET. NEM fast facts:

FACT SHEET. NEM fast facts: (NEM) operates on one of the world s longest interconnected power systems, stretching from Port Douglas in Queensland to Port Lincoln in South Australia and across the Bass Strait to Tasmania a distance

More information

Quarterly Wholesale/Retail Price Report

Quarterly Wholesale/Retail Price Report Quarterly Wholesale/Retail Price Report February 29 Contents Overview 3 Summary of analysis 1. Customer bills, wholesale costs and margins 5 Electricity Gas 2. Scenario analysis: Impact of retail price

More information

Western Australia and the Northern Territory are not connected to the NEM, primarily due to the distance between networks.

Western Australia and the Northern Territory are not connected to the NEM, primarily due to the distance between networks. Australia has one of the world s longest alternating current (AC) systems, stretching from Port Douglas in Queensland to Port Lincoln in South Australia and across the Bass Strait to Tasmania a distance

More information

INSTITUTE FOR SUSTAINABLE FUTURES NSW BUSINESS ENERGY PRICES TO 2020

INSTITUTE FOR SUSTAINABLE FUTURES NSW BUSINESS ENERGY PRICES TO 2020 INSTITUTE FOR SUSTAINABLE FUTURES NSW BUSINESS ENERGY PRICES TO 2020 NSW business energy prices to 2020 FINAL REPORT Revision 1 FOR THE NSW OFFICE OF ENVIRONMENT AND HERITAGE AUTHORS NICKY ISON, JAY RUTOVITZ

More information

Energy Price Fact Sheet

Energy Price Fact Sheet Tariff 20 - ERG69764RS Small Business Electricity Ergon Single rate Regulated offer 01-Jul-2015 Tariff 20 Business General Supply 1st July to 30th June All consumption. Anytime All consumption 22.481 cents

More information

Port Jackson Partners

Port Jackson Partners Port Jackson Partners NOT JUST A CARBON HIT ON ELECTRICITY PRICES Many factors will drive a doubling of electricity prices in many states by 15. This will have a major impact on virtually all businesses.

More information

Power of choice review - giving consumers options in the way they use electricity

Power of choice review - giving consumers options in the way they use electricity FINAL REPORT Power of choice review - giving consumers options in the way they use electricity 30 November 2012 Reference: EPR0022 Final Report Inquiries Australian Energy Market Commission PO Box A2449

More information

Domestic Customer Tariff Breakdown - RoI Note this is approximate due to tariff and consumption variations

Domestic Customer Tariff Breakdown - RoI Note this is approximate due to tariff and consumption variations Guide to Electricity price formation in Ireland and Northern Ireland The numbers The average household consumes 4,300 kwh 1 of electricity per annum in Ireland and 4,100 in Northern Ireland. At an average

More information

Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours.

Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours. Introducing Gazprom Energy Stable, secure, reliable energy from one of the world s biggest names. With deals tailored around your needs, not ours. About us Gazprom Energy customers receive a long lasting

More information

Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs

Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs Non-energy costs pay for running the UK s gas and electricity networks and comprise a variety of obligations,

More information

Review of the Energy Savings Scheme. Position Paper

Review of the Energy Savings Scheme. Position Paper Review of the Energy Savings Scheme Position Paper October 2015 Contents Executive summary... 3 Energy Savings Scheme Review Report package... 3 Expanding to gas... 3 Target, penalties and duration...

More information

look A closer Have you ever wanted to look into what makes up electricity prices and find out how the electricity market works? at electricity prices

look A closer Have you ever wanted to look into what makes up electricity prices and find out how the electricity market works? at electricity prices Electricity prices explained Have you ever wanted to look into what makes up electricity prices and find out how the electricity market works? Then this information may help because it s important to Contact

More information

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS

NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS I. Summary NATURAL GAS PRICES TO REMAIN AT HIGHER LEVELS This brief white paper on natural gas prices is intended to discuss the continued and sustained level of natural gas prices at overall higher levels.

More information

Australian Energy Market Commission

Australian Energy Market Commission Australian Energy Market Commission Level 6, 201 Elizabeth Street Sydney NSW 2000 PO Box A2449, Sydney South NSW 1235 P 02 8296 7800 F 02 8296 7899 E aemc@aemc.gov.au ABN 49 236 270 144 www.aemc.gov.au

More information

Farm energy planning calculator

Farm energy planning calculator The farm energy planning calculator is a decision support tool designed to assist farmers and their advisors in identifying, prioritising and implementing energy-saving solutions. It serves several functions,

More information

Looking for an Energy Broker? 5 Questions to Ask

Looking for an Energy Broker? 5 Questions to Ask Looking for an Energy Broker? 5 Questions to Ask Ask the right questions to get the right deal 01 Looking for a Business Energy Broker? 5 Questions to Ask Ask the right questions to get the right deal

More information

Case Study: The Accomplishments and Shortcomings of Australia s Renewable Energy Target: A Pure Market-Based Support Mechanism

Case Study: The Accomplishments and Shortcomings of Australia s Renewable Energy Target: A Pure Market-Based Support Mechanism RENEWABLE ENERGY INVESTORS AND FINANCIERS Case Study: The Accomplishments and Shortcomings of Australia s Renewable Energy Target: A Pure Market-Based Support Mechanism Lessons for Other Jurisdictions

More information

Zero cost solutions for driving energy savings

Zero cost solutions for driving energy savings Zero cost solutions for driving energy savings Zero cost solutions for driving energy savings and delivering sustainability through LED Lighting Businesses looking to cut energy costs, reduce carbon emissions

More information

Past and projected future components of electricity supply to the ACT, and resultant emissions intensity of electricity supplied

Past and projected future components of electricity supply to the ACT, and resultant emissions intensity of electricity supplied Past and projected future components of electricity supply to the ACT, and resultant emissions intensity of electricity supplied transport community industrial & mining carbon & energy Prepared for: ACT

More information

Power NI: tariff methodology

Power NI: tariff methodology Research and Information Service Paper 12/14 23 September 213 NIAR 640-13 Aidan Stennett Power NI: tariff methodology 1 Introduction The following paper supplements Northern Ireland Assembly Research and

More information

Impact of green energy policies on electricity prices

Impact of green energy policies on electricity prices Impact of green energy policies on electricity prices July 2014 Synergies Economic Consulting Pty Ltd www.synergies.com.au Disclaimer Synergies Economic Consulting (Synergies) and ROAM Consulting (ROAM)

More information

Realising the benefits of smart meters for consumers and industry

Realising the benefits of smart meters for consumers and industry Realising the benefits of smart meters for consumers and industry ERAA smart meter Working Paper 1 Suite 3, Level 5, 189 Kent Street Sydney NSW 2000 T (02) 8241 1800 E info@eraa.com.au www.eraa.com.au

More information

The UK Electricity Market Reform and the Capacity Market

The UK Electricity Market Reform and the Capacity Market The UK Electricity Market Reform and the Capacity Market Neil Bush, Head Energy Economist University Paris-Dauphine Tuesday 16 th April, 2013 Overview 1 Rationale for Electricity Market Reform 2 Why have

More information

Design Guide. Managing Peak Energy Demand In Live Performance Venues

Design Guide. Managing Peak Energy Demand In Live Performance Venues Design Guide Managing Peak Energy Demand In Live Performance Venues Peak demand; the highest amount of electricity consumed at any one time, has a major impact on network charges and has a considerable

More information

Successful value investing: the long term approach

Successful value investing: the long term approach Successful value investing: the long term approach Neil Walton, Head of Global Strategic Solutions, Schroders Do you have the patience to be a value investor? The long-term outperformance of a value investment

More information

2. Executive Summary. Emissions Trading Systems in Europe and Elsewhere

2. Executive Summary. Emissions Trading Systems in Europe and Elsewhere 2. Executive Summary With the introduction of CO 2 emission constraints on power generators in the European Union, climate policy is starting to have notable effects on energy markets. This paper sheds

More information

Using the sun to generate electricity

Using the sun to generate electricity Using the sun to generate electricity Image source: http://www.globalsolarcenter.com/files/2009/04/commercial-solar.jpg Solar panels information sheet What are the benefits? How does it work? What is the

More information

The Virtual Power Station - achieving dispatchable generation from small scale solar

The Virtual Power Station - achieving dispatchable generation from small scale solar The Virtual Power Station - achieving dispatchable generation from small scale solar John K Ward, Tim Moore, Stephen Lindsay CSIRO Energy Technology, Newcastle, NSW 24 Australia Keywords: forecasting,

More information

AEMC Electricity Price Trends report released

AEMC Electricity Price Trends report released AEMC Electricity Price Trends report released AUSTRALIAN ENERGY MARKET COMMISSION LEVEL 5, 201 ELIZABETH STREET SYDNEY NSW 2000 T: 02 8296 7800 E: AEMC@AEMC.GOV.AU W: WWW.AEMC.GOV.AU The Australian Energy

More information

Wind and solar reducing consumer bills An investigation into the Merit Order Effect

Wind and solar reducing consumer bills An investigation into the Merit Order Effect Switch for Good Wind and solar reducing consumer bills An investigation into the Merit Order Effect Executive summary Concerns over the cost of renewable subsidy schemes have led to significant policy

More information

Electricity network services. Long-term trends in prices and costs

Electricity network services. Long-term trends in prices and costs Electricity network services Long-term trends in prices and costs Contents Executive summary 3 Background 4 Trends in network prices and service 6 Trends in underlying network costs 11 Executive summary

More information

Choosing an Electricity Provider

Choosing an Electricity Provider Choosing an Electricity Provider Pennsylvania is abuzz with talk of the upcoming move to electricity company competition in 2010. What this means is that soon you may be able to shop around for an electricity

More information

Saving energy: bringing down Europe s energy prices

Saving energy: bringing down Europe s energy prices Saving energy: bringing down Europe s energy prices Saving energy: bringing down Europe s energy prices By: Dr. Edith Molenbroek, Prof. Dr. Kornelis Blok Date: May 2012 Project number: BUINL12344 Ecofys

More information

Possible future retail electricity price movements: 1 July 2012 to 30 June 2015

Possible future retail electricity price movements: 1 July 2012 to 30 June 2015 ELECTRICITY PRICE TRENDS FINAL REPORT Possible future retail electricity price movements: 1 July 2012 to 30 June 2015 22 March 2013 Reference: EPR0029 Electricity price trends report EMBARGO until 22 March

More information

The risks and benefits of shares

The risks and benefits of shares Course 3 The risks and benefits of shares Topic 1: The risks of shares... 3 The risks of shares... 3 The risk of capital loss... 3 Volatility risk... 4 The risk of poor quality advice... 4 Time for your

More information

Understanding Network Tariff Reform

Understanding Network Tariff Reform Understanding Network Tariff Reform A guide for small to medium business and residential customers who use less than 100MWh of electricity a year Ergon Energy is restructuring the way it charges for the

More information

HARNESS. Utilising solar energy to save money

HARNESS. Utilising solar energy to save money HARNESS Utilising solar energy to save money Why consider solar? No control over ever rising electricity prices Electricity costs have doubled over the last 10 years* What will your electricity bill be

More information

Retail Tariffs. Business, Irrigation and Farming Tariffs

Retail Tariffs. Business, Irrigation and Farming Tariffs Retail Tariffs Business, Irrigation and Farming Tariffs Background on Ergon Energy Qld Retail Tariffs The Queensland Competition Authority (QCA) has been delegated the task of determining notified prices

More information

GB Electricity Market Summary

GB Electricity Market Summary GB Electricity Market Summary SECOND QUARTER 2014 APR TO JUN Recorded Levels of UK Generation by Fuel (based upon DECC Energy Trends & FUELHH data): GAS: 10.8GW WIND: 2.6GW AUGUST 2014 COAL: 10.1GW BIOMASS:

More information

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8

Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 Overview 3 Electricity price increases 4 Capital and operating expenditure 6 Demand side management 7 Issues with sales/demand forecasts 8 2 Business SA is the State s leading business organisation, representing

More information

Wholesale costs make up the largest proportion of your electricity and gas bills, currently between a half and two thirds for electricity and a

Wholesale costs make up the largest proportion of your electricity and gas bills, currently between a half and two thirds for electricity and a Wholesale costs make up the largest proportion of your electricity and gas bills, currently between a half and two thirds for electricity and a little higher for gas. Smaller businesses are likely to face

More information

September 2009 Vol 2 No. 5

September 2009 Vol 2 No. 5 Carbon Trading and Offsets What Does the Future Hold? Going Green and Reducing Your Electricity Costs Voice of the Customer More Than Feelgood Feedback 1 Going Green and ReducingYour Energy Costs Michael

More information

Corporate Procurement of the Council s Electricity and Gas Supplies

Corporate Procurement of the Council s Electricity and Gas Supplies POLICY & RESOURCES COMMITTEE Agenda Item 146 Brighton & Hove City Council Subject: Date of Meeting: 12 February 2015 Report of: Corporate Procurement of the Council s Electricity and Gas Supplies Interim

More information

Economic Concepts for Pricing Electricity Network Services A Report for the Australian Energy Market Commission

Economic Concepts for Pricing Electricity Network Services A Report for the Australian Energy Market Commission Economic Concepts for Pricing Electricity Network Services A Report for the Australian Energy Market Commission 21 July 2014 Project Team Adrian Kemp Oliver Nunn Martin Chow Stephanie Gainger NERA Economic

More information

FINANCIAL SUPPORT PROGRAMS

FINANCIAL SUPPORT PROGRAMS 9 FINANCIAL SUPPORT PROGRAMS 108 9 FINANCIAL SUPPORT PROGRAMS 9 FINANCIAL SUPPORT PROGRAMS There are a number of Government support mechanisms to help reduce the barriers to undertaking action on energy

More information

CCIQ Submission to the QCA consultation paper Regulated Retail Electricity Prices 2013-14: Cost Components and Other Issues

CCIQ Submission to the QCA consultation paper Regulated Retail Electricity Prices 2013-14: Cost Components and Other Issues CCIQ Submission to the QCA consultation paper Regulated Retail Electricity Prices 2013-14: Cost Components and Other Issues About the Submission CCIQ makes this submission in response to the QCAs consultation

More information

ELECTRICITY FROM RENEWABLE ENERGY IN VICTORIA 2011 June 2012

ELECTRICITY FROM RENEWABLE ENERGY IN VICTORIA 2011 June 2012 ELECTRICITY FROM RENEWABLE ENERGY IN VICTORIA 2011 June 2012 Executive Summary This report provides an overview of Victoria s electricity generation from renewable energy sources in 2012. The report presents

More information

Electricity settlement reform moving to halfhourly

Electricity settlement reform moving to halfhourly Electricity settlement reform moving to halfhourly settlement Launch Statement Publication date 4 April 2014 Contact: Jonathan Amos and Jeremy Adams- Strump Team: Smarter Markets Tel: 0207 901 7000 Email:

More information

Energy Savings Agency: The Greens plan to fix Australia s energy system

Energy Savings Agency: The Greens plan to fix Australia s energy system Energy Savings Agency: The Greens plan to fix Australia s energy system Our electricity system is in bad shape. Power bills have skyrocketed in recent years, mainly because of unnecessary investment in

More information

ERM POWER RETAIL PTY LTD STANDARD LARGE CUSTOMER RETAIL CONTRACT

ERM POWER RETAIL PTY LTD STANDARD LARGE CUSTOMER RETAIL CONTRACT ERM POWER RETAIL PTY LTD STANDARD LARGE CUSTOMER RETAIL CONTRACT This standard large customer retail contract sets out the terms referred to in section 52(1) of the Act. It only applies between ERM Power

More information

Jersey Energy Trends 2005

Jersey Energy Trends 2005 Jersey Energy Trends 25 Headlines In 25 total final energy demand in Jersey was 187 million toe (2,17, 9 MWh) an increase of.1% on 24. Final consumption of electricity grew by 1.2% between 24 and 25. Over

More information

Australian Solar Council Submission on Queensland Competition Authority Issues Paper Estimating a Fair and Reasonable Solar Feed-in Tariff for

Australian Solar Council Submission on Queensland Competition Authority Issues Paper Estimating a Fair and Reasonable Solar Feed-in Tariff for Australian Solar Council Submission on Queensland Competition Authority Issues Paper Estimating a Fair and Reasonable Solar Feed-in Tariff for Queensland Dear Sir/Madam Thank you for the opportunity to

More information

Managed funds. Plain Talk Library

Managed funds. Plain Talk Library Plain Talk Library Contents Introduction to managed funds 5 What is a managed fund and how does it work? 6 Types of managed funds 12 What are the benefits of managed funds? 15 Choosing a managed fund

More information

Green Power Accounting Workshop: Concept Note For discussion during Green Power Accounting Workshop in Mexico City, May 13th 2011

Green Power Accounting Workshop: Concept Note For discussion during Green Power Accounting Workshop in Mexico City, May 13th 2011 Introduction As more companies and government organizations prepare greenhouse gas (GHG) inventories that reflect the emissions directly and indirectly associated with their operations, they increasingly

More information

Concern about climate change and concerted international action to reduce greenhouse gas emissions are powerful new drivers for renewable energy.

Concern about climate change and concerted international action to reduce greenhouse gas emissions are powerful new drivers for renewable energy. Title: AUSTRALIA S RENEWABLE ENERGY CERTIFICATE SYSTEM Authors: David Rossiter and Karla Wass 1 Office of the Renewable Energy Regulator Kings Avenue, Barton ACT 2600, Australia GPO Box 621, Canberra ACT

More information

INDEPENDENT. OBJECTIVE. RELIABLE. Options Basics & Essentials: The Beginners Guide to Trading Gold & Silver Options

INDEPENDENT. OBJECTIVE. RELIABLE. Options Basics & Essentials: The Beginners Guide to Trading Gold & Silver Options INDEPENDENT. OBJECTIVE. RELIABLE. 1 About the ebook Creator Drew Rathgeber is a senior broker at Daniels Trading. He has been heavily involved in numerous facets of the silver & gold community for over

More information

Retail prices for franchise electricity customers 2012 14 Report 4 of 2012 June 2012

Retail prices for franchise electricity customers 2012 14 Report 4 of 2012 June 2012 Final report Retail prices for franchise electricity customers 2012 14 Report 4 of 2012 June 2012 The Independent Competition and Regulatory Commission (the Commission) was established by the Independent

More information

The Renewable Energy Target

The Renewable Energy Target The Renewable Energy Target How it works and what it costs Prepared for Australian Industry Greenhouse Network (AIGN) November 2013 THE CENTRE FOR INTERNATIONAL ECONOMICS The Centre for International Economics

More information

Finance and Policy Committee. Date: 14 October 2014. Item 17: TfL Energy Purchasing 2017 to 2020. This paper will be considered in public.

Finance and Policy Committee. Date: 14 October 2014. Item 17: TfL Energy Purchasing 2017 to 2020. This paper will be considered in public. Finance and Policy Committee Date: 14 October 2014 Item 17: TfL Energy Purchasing 2017 to 2020 This paper will be considered in public 1 Summary 1.1 This paper: (a) reviews the current purchasing strategy

More information

ENA Position Paper DECEMBER 2014 TOWARDS A NATIONAL APPROACH TO ELECTRICITY NETWORK TARIFF REFORM

ENA Position Paper DECEMBER 2014 TOWARDS A NATIONAL APPROACH TO ELECTRICITY NETWORK TARIFF REFORM ENA Position Paper DECEMBER 2014 TOWARDS A NATIONAL APPROACH TO ELECTRICITY NETWORK TARIFF REFORM CONTENTS EXECUTIVE SUMMARY WHAT S AT STAKE FOR CUSTOMERS? CURRENT MEASURES ARE INSUFFICIENT A NATIONAL

More information

Implications of Carbon Cap-and-Trade for Electricity Rate Design, with Examples from Florida. Hethie Parmesano and Theodore J.

Implications of Carbon Cap-and-Trade for Electricity Rate Design, with Examples from Florida. Hethie Parmesano and Theodore J. Implications of Carbon Cap-and-Trade for Electricity Rate Design, with Examples from Florida Hethie Parmesano and Theodore J. Kury Hethie Parmesano is a Special Consultant with NERA Economic Consulting

More information

Workshop B. 11:15 a.m. to 12:30 p.m.

Workshop B. 11:15 a.m. to 12:30 p.m. Workshop B Advanced Energy Management Tools: Benefitting from the Competitive Electricity Marketplace Beyond the Fixed Rate & Key Issues to Understand when Comparing Electricity Quotes 11:15 a.m. to 12:30

More information

Electricity Insight NEW ZEALAND S ENERGY OUTLOOK. Preview of key insights: Exploring the uncertainty in future electricity demand and supply

Electricity Insight NEW ZEALAND S ENERGY OUTLOOK. Preview of key insights: Exploring the uncertainty in future electricity demand and supply NEW ZEALAND S ENERGY OUTLOOK Electricity Insight Exploring the uncertainty in future electricity demand and supply Preview of key insights: Lower demand growth and excess supply should put strong downward

More information

Preparatory Paper on Focal Areas to Support a Sustainable Energy System in the Electricity Sector

Preparatory Paper on Focal Areas to Support a Sustainable Energy System in the Electricity Sector Preparatory Paper on Focal Areas to Support a Sustainable Energy System in the Electricity Sector C. Agert, Th. Vogt EWE Research Centre NEXT ENERGY, Oldenburg, Germany corresponding author: Carsten.Agert@next-energy.de

More information

UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION. ) ) Reliability Technical Conference ) Docket No.

UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION. ) ) Reliability Technical Conference ) Docket No. UNITED STATES OF AMERICA BEFORE THE FEDERAL ENERGY REGULATORY COMMISSION Reliability Technical Conference Docket No. AD14-9-000 REMARKS OF BRAD ALBERT GENERAL MANAGER, RESOURCE MANAGEMENT ARIZONA PUBLIC

More information

ENERGY EFFICIENCY IN BUSINESS PLANNING ENERGY EFFICIENCY FACT SHEET

ENERGY EFFICIENCY IN BUSINESS PLANNING ENERGY EFFICIENCY FACT SHEET ENERGY EFFICIENCY IN BUSINESS PLANNING ENERGY EFFICIENCY FACT SHEET as part of the Energy Efficiency Information Grants Program Managing energy effectively within your business will decrease your energy

More information

Final Determination. Regulated retail electricity prices 2014 15

Final Determination. Regulated retail electricity prices 2014 15 Final Determination Regulated retail electricity prices 2014 15 May 2014 We wish to acknowledge the contribution of the following staff to this report: Dan Barclay, Courtney Chester, Jennie Cooper, James

More information

Energy saving technology to deliver the fastest returns. Top 10 energy saving options

Energy saving technology to deliver the fastest returns. Top 10 energy saving options Energy saving technology to deliver the fastest returns Top 10 energy saving options How can you increase efficiency, reduce costs and cut your carbon emissions? Unstable energy prices, increased costs,

More information

Cutting Australia s Carbon Abatement Costs with Nuclear Power

Cutting Australia s Carbon Abatement Costs with Nuclear Power Cutting Australia s Carbon Abatement Costs with Nuclear Power Martin Nicholson, October 2011 Abstract The Australian Government Treasury modelling of a carbon price shows that Australia must purchase the

More information

Developments in Utilities Prices

Developments in Utilities Prices Michael Plumb and Kathryn Davis* Large increases in the prices of utilities have been a notable feature of consumer price inflation in Australia in recent years, and further large increases are anticipated

More information

How Do Energy Suppliers Make Money? Copyright 2015. Solomon Energy. All Rights Reserved.

How Do Energy Suppliers Make Money? Copyright 2015. Solomon Energy. All Rights Reserved. Bills for electricity and natural gas can be a very high proportion of a company and household budget. Accordingly, the way in which commodity prices are set is of material importance to most consumers.

More information

The Impact of Fuel Costs on Electric Power Prices

The Impact of Fuel Costs on Electric Power Prices The Impact of Fuel Costs on Electric Power Prices by Kenneth Rose 1 June 2007 1 Kenneth Rose is an independent consultant and a Senior Fellow with the Institute of Public Utilities (IPU) at Michigan State

More information

Unlocking Electricity Prices:

Unlocking Electricity Prices: Volume 2 A BidURenergy White Paper Unlocking Electricity Prices: A White Paper Exploring Price Determinants by: Mark Bookhagen, CEP pg. 2 Written by Mark Bookhagen, CEP Introduction In order to be classified

More information

Energy Management. How the FD can make a difference. A FinancialDirector and publication

Energy Management. How the FD can make a difference. A FinancialDirector and publication Energy Management How the FD can make a difference A FinancialDirector and publication Introduction In the current economic climate, controlling costs is a key priority for businesses of all sectors and

More information

Queensland s Unsustainable Electricity Pricing Methodology

Queensland s Unsustainable Electricity Pricing Methodology Queensland s Unsustainable Electricity Pricing Methodology Submission to the QCA and Queensland Government in relation to the 2011-12 BRCI Electricity Price Determination 10 February 2011 Page 1 of 12

More information

Index options. Module 9

Index options. Module 9 Course #: Title Module 9 Index options Index options... 1 Topic 1: Why trade index options?... 3 Trade the direction of the index... 3 Leveraged exposure... 3 Protect a share portfolio... 4 Topic 2: How

More information