We examine different scenarios with large amounts of intermittent generation to achieve close to a 100% renewable electricity market in New Zealand. We use a cost based dispatch model to simulate market prices. Previous modelling has estimated electricity prices using the Long Run Marginal Cost...

Using a computer agent based model I compute market power rents in the New Zealand electricity market over the period 2010–2016 and find that these are substantial. Over the 7-year period of the study, total simulated market revenue is $15.2 billion and simulated competitive revenue, using...

We analyze the effects of the adoption of real-time pricing (RTP) of electricity when generating firms have market power. We find that an increase in consumers on RTP contracts decreases peak prices and increases off-peak prices, increases consumer surplus (both for switching and non-switching...

Modelling price formation in electricity markets is a notoriously difficult process, due to physical constraints on electricity generation and flow. This difficulty has inspired the recent development of bottom-up agent-based models of electricity markets. While these have proven quite...