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Water is valuable: the allocation of water and other resources in the New Zealand electricity market

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Date

2013

Journal Title

Journal ISSN

Volume Title

Publisher

Te Herenga Waka—Victoria University of Wellington

Abstract

This monograph investigates the role of the electricity market in the allocation of water and other resources used as inputs into electricity generation. We base our observations on the outputs of an original electricity spot market model designed to mimic the New Zealand electricity market. The model explains the role of water storage and the associated value of water in decision-making by generation companies. It also explains how water is allocated between on and off-peak periods and across seasons.

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Keywords

electricity, spotmarket, Water allocation, hedge market

Citation