An energy market is a platform or system in which energy commodities, such as electricity, gas, or renewable energy, are bought, sold, and traded. These markets facilitate the exchange between energy producers (such as power plants) and consumers (like homes and businesses), allowing for price determination based on supply and demand dynamics. Energy markets can be structured in various ways, including wholesale markets, where large quantities of energy are traded, and retail markets, where individual consumers purchase energy. They can also be organized as regulated markets, guided by government policies, or liberalized markets, which prioritize competition among suppliers. Energy markets play a crucial role in ensuring the efficient distribution and use of energy resources, promoting investment in infrastructure, and facilitating the transition towards sustainable energy sources.
Battery storage in Australia is witnessing a remarkable transformation. According to a recent analysis from Wood Mackenzie, investments in battery storage systems within the National Electricity Market (NEM) are turning…