National Electricity Market
The National Electricity Market (NEM) is the name of the Australian wholesale electricity market and the associated synchronous electricity transmission grid.
The NEM began operation on 13 December 1998, and operations are currently based in five interconnected regions - Queensland, New South Wales, Tasmania, Victoria and South Australia. Tasmania was the last state to join the NEM as the sixth region in May 2005 and became fully operational on 29 April 2006 when the Basslink interconnector was fully activated.
The Snowy region was abolished on 1 July 2008 and the components split between New South Wales and Victoria. The Australian Capital Territory is included in the NSW region of the NEM.
The NEM operates one of the world’s longest interconnected power systems between Port Douglas, Queensland and Port Lincoln, South Australia with an end-to-end distance of more than 4000 kilometres. Over A$11 billion of electricity is traded annually in the NEM to meet the demand of almost eight million end-use consumers.
Read more about National Electricity Market: Operation of The NEM Physical Market, System Reliability, Financial Markets, Enforcement, Outcomes
Famous quotes containing the words national, electricity and/or market:
“We are constantly thinking of the great war ... which saved the Union ... but it was a war that did a great deal more than that. It created in this country what had never existed before—a national consciousness. It was not the salvation of the Union, it was the rebirth of the Union.”
—Woodrow Wilson (1856–1924)
“There are two great unknown forces to-day, electricity and woman, but men can reckon much better on electricity than they can on woman.”
—Josephine K. Henry, U.S. suffragist. As quoted in History of Woman Suffrage, vol. 4, ch. 15, by Susan B. Anthony and Ida Husted Harper (1902)
“Writing ought either to be the manufacture of stories for which there is a market demand—a business as safe and commendable as making soap or breakfast foods—or it should be an art, which is always a search for something for which there is no market demand, something new and untried, where the values are intrinsic and have nothing to do with standardized values.”
—Willa Cather (1876–1947)