Electricity Industry, Markets,
Regulators and Investors
ACIL Tasman provides
economics, policy and strategic advice
on electricity matters to companies,
regulators, governments and other
stakeholders both in Australia and
internationally with a strong focus on
Asia, South East Asia, New Zealand and
the Pacific. We have specialist and
in-depth knowledge and expertise in most
of the major electricity markets around
the world including markets in
Australia, New Zealand, Asia, the UK,
Europe and the US. ACIL Tasman's
Electricity Group applies this knowledge
and skill base to the design, operation
and interaction of electricity markets
in the Australasian, Asian and Pacific
regions in which we provide most of our
advice.
We provide advice across the
following areas:
•
Commercial and strategic
analysis of electricity markets as a
basis for decision making by potential
investors and existing players.
•
Electricity market design,
development and review both for policy
makers and regulators and for commercial
entities seeking to understand the
implications of specific designs and
developments.
•
Policy, regulation and
evaluation studies.
•
Commercial and policy
advice to support project and corporate
financing and refinancing arrangements.
•
Analysis and advice on the
potential interactions of electricity
with other related markets, particularly
in relation to fuels and electricity
substitutes (gas).
ACIL Tasman has
the following key capabilities in
Electricity:
•
Electricity market
analysis and price modeling using our
highly regarded proprietary PowerMark
model.
•
Market analysis and
strategic insights into the impact of
potential and likely developments in
related markets particularly fuels
(coal, gas and renewables) and gas as an
end use energy market.
•
Forecasts of electricity
demand with respect to particular assets
or supply systems.
•
Regulatory and policy and
analysis around existing, likely and
potential market developments for both
companies and governments agencies.
•
Analysis of regulatory
processes governing new energy
infrastructure, including the
establishment of third party access
arrangements and reference tariffs.
•
Strategy analysis and risk
assessments to support decision making
in relation to commercial strategies
around existing investments and for new
investments.
•
Advice on contracting and
procuring electricity.
A fundamental reason
for our reputation as a leading adviser
on electricity matters lies in our
in-depth modeling capability which we
develop in-house. ACIL Tasman’s
approach to the use of models in
commercial analysis work is one of
careful balance between the powerful
insights which can flow from the sound
application of a valid model and the
risks that are associated with data
deficiencies and limitations on the
understanding of the underlying economic
and technical systems. The emphasis has
been on building an understanding of
those systems and on using this
understanding to provide a set of
sensibility checks for use in any
modeling application. ACIL Tasman
offers the following modeling capability
to clients in assisting with the
understanding of electricity markets:
•
PowerMark™, a model that
simulates the formulation of prices in
electricity markets. It is at the
cutting edge in simulating market
behavior, including the complex
interactions between generation
portfolios in the multi-temporal auction
found in most advanced electricity
markets today. The model has been
developed and used extensively in
Australia but is easily adapted to most
other electricity markets – as has
already been done to analyse the
Singapore and Philippines electricity
markets.
•
Electricity market models
have been developed to analyse and test
particular features of electricity
markets. These models, include other
pool price simulators, least-cost
planning models and risk assessment and
financial modeling suites.
•
The ACIL Tasman gas market
simulation model, GasMark ™, has been
developed as a tool to assist in
analysing gas markets and understanding
market dynamics under differing
assumptions regarding the availability
and pricing of gas production from
different fields, transmission pipeline
network developments, and market
demand. Gas is increasingly a key input
to electricity market assessments as a
key source of fuel but also is a primary
substitute for electricity across a
arrange of applications.
•
ACIL Tasman’s energy
models are supported by our applied
general equilibrium model,
Tasman–Global, which enables electricity
and energy sector changes to be
translated into economy-wide impacts.
Tasman–Global incorporates a detailed
representation of the energy sector, and
is one of the leading models of its type
in Australia for scenario and policy
analysis and economic projections.
