Business Services Industry
AUSTRALIA'S COMPETITION WATCHDOG RULES ON ELECTRICITY SECTOR.
AsiaPulse News, December, 2002
CANBERRA, Dec 9 Asia Pulse - The competition watchdog today handed down a decision intended to stop large electricity wholesalers from abusing their market position to raise power prices.
The Australian Competition and Consumer Commission (ACCC) said power companies must act in good faith when rebidding in the national electricity market.
Rebidding allows generators to revise a bid they made in the half-hour spot market a day earlier up to five minutes before dispatch.
The National Electricity Code Administrator (NECA) and the ACCC were concerned some generators were using the rebidding process to raise prices during periods of high demand.
"During the summer of 2000/01, large price spikes in the spot market for electricity were...
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