ABSTRACT
The electricity industry in Australia has undergone similar significant reform in the last decade [3]. It is now a deregulated system with an open grid arrangement in which anyone with electricity generation capacity or large electricity demand can participate or trade. The system, now known as the National Electricity Market (NEM), is managed by a statutory company, the National Electricity Market Management Company (NEMMCO) [4]. NEMMCO was established under the National Electricity Code in 1996 to implement, administer and operate the wholesale NEM, continually improve its efficiency, and manage the security of the power system. It is a body corporate whose members are the governments of the states in Australia.
