Australia's National Electricity Market (NEM) is experiencing one of the world's fastest and marked transitions toward variable renewable energy generation. This transformation poses challenges to system security and reliability and has triggered increased variability and uncertainty in...

We extend beyond conventional mean-to-mean effects to examine how fundamental variables impact the entire distribution of electricity spot prices in the Australian National Electricity Market. Employing quantile regression models, we demonstrate that variable renewable energy (VRE) generation...

The Australian National Electricity Market (NEM) is an energy-only zonal instance of the integrated pool model without a day-ahead market where a security-constrained economic-dispatch (SCED) engine controls dispatch and sets the price every 5 minutes. After a brief overview of pool markets...

I examine the ability of equity market illiquidity to predict Australian macroeconomic variables, between 1976 and 2010. In contrast to existing, U.S.-based, studies, I find that stock market illiquidity does not, on average, have much predictive power over economic growth. Consistent with the...