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The Victorian Energy Networks Corporation (VENCorp) was a Victorian State Government-owned entity established in December 1997 responsible for the efficient operation of gas and electricity industries in Victoria, Australia, within Victoria's privatised energy industries. It was funded by energy industry participants.
VENCorp had major operational, planning and development roles for both gas and electricity, the key being:
Since the 1950s, the Gas and Fuel Corporation was a government-owned monopoly supplier of household gas in Victoria. In 1965, natural gas was discovered in Bass Strait, and the Corporation undertook a conversion program, which took over 20-months ending in December 1970, to convert around one million appliances to operate on natural gas. In July 1994, [1] the Gas and Fuel Corporation was dis-aggregated into three divisions: gas distributor and retail companies, a gas transmission company and an independent market operator, VENCorp. The Kennett Government subsequently privatised the gas distribution, retail and transmission divisions, along with the State Electricity Commission of Victoria, Victoria's main electricity utility. VENCorp remained a government entity though funded by energy industry participants.
VENCorp took over the electricity transmission planning function of the Victorian Power Exchange when it was wound up in 1998, after the establishment of NEMMCO and the commencement of the National Electricity Market.
The functions of VENCorp were assumed by the Australian Energy Market Operator, which commenced operations on 1 July 2009, and VENCorp was wound up.
A public utility company is an organization that maintains the infrastructure for a public service. Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies.
The New Zealand electricity market (NZEM) is a decentralised electricity market regulated by the Electricity Industry Participation Code administered by the Electricity Authority (EA). The authority was established in November 2010 to replace the Electricity Commission.
In a broad sense, an electricity market is a system that facilitates the exchange of electricity-related goods and services. During more than a century of evolution of the electric power industry, the economics of the electricity markets had undergone enormous changes for reasons ranging from the technological advances on supply and demand sides to politics and ideology. A restructuring of electric power industry at the turn of the 21st century involved replacing the vertically integrated and tightly regulated "traditional" electricity market with multiple competitive markets for electricity generation, transmission, distribution, and retailing. The traditional and competitive market approaches loosely correspond to two visions of industry: the deregulation was transforming electricity from a public service into a tradable good. As of 2020s, the traditional markets are still common in some regions, including large parts of the United States and Canada.
The electric power industry covers the generation, transmission, distribution and sale of electric power to the general public and industry. The commodity sold is actually energy, not power, e.g. consumers pay for kilowatt-hours, power multiplied by time, which is energy. The commercial distribution of electricity started in 1882 when electricity was produced for electric lighting. In the 1880s and 1890s, growing economic and safety concerns lead to the regulation of the industry. What was once an expensive novelty limited to the most densely populated areas, reliable and economical electric power has become an essential aspect for normal operation of all elements of developed economies.
The National Electricity Market (NEM) is an arrangement in Australia's electricity sector for the connection of the electricity transmission grids of the eastern and southern Australia states and territories to create a cross-state wholesale electricity market. The Australian Energy Market Commission develops and maintains the Australian National Electricity Rules (NER), which have the force of law in the states and territories participating in NEM. The Rules are enforced by the Australian Energy Regulator. The day-to-day management of NEM is performed by the Australian Energy Market Operator.
A regional transmission organization (RTO) in the United States is an electric power transmission system operator (TSO) that coordinates, controls, and monitors a multi-state electric grid. The transfer of electricity between states is considered interstate commerce, and electric grids spanning multiple states are therefore regulated by the Federal Energy Regulatory Commission (FERC). The voluntary creation of RTOs was initiated by FERC Order No. 2000, issued on December 20, 1999. The purpose of the RTO is to promote economic efficiency, reliability, and non-discriminatory practices while reducing government oversight.
ActewAGL is an Australian multi-utility joint venture company that provides utility services in the Australian Capital Territory (ACT) and south-east New South Wales. The company was formed in October 2000 between the Australian Gas Light Company and ACTEW Corporation.
The State Electricity Commission of Victoria was a government-owned electricity supplier in Victoria, Australia. It was set up in 1918, and by 1972 it was the sole agency in the state for electricity generation, transmission, distribution and supply. Control of the SECV was by a Board of Commissioners appointed by the Victorian Government. After 1993, the SECV was disaggregated into generation, transmission and distribution companies, which were further split and then privatised in the mid to late 1990s. However, electricity supply agreements with the Portland and Point Henry aluminium smelters were retained by SECV, which continued as their electricity supplier.
A transmission system operator (TSO) is an entity entrusted with transporting energy in the form of natural gas or electrical power on a national or regional level, using fixed infrastructure. The term is defined by the European Commission. The certification procedure for transmission system operators is listed in Article 10 of the Electricity and Gas Directives of 2009.
The Gas and Fuel Corporation of Victoria (G&FC) was a government-owned monopoly supplier of household gas in Victoria, Australia. It was established in 1950 and took over two of the three main gas utilities in Melbourne – the Metropolitan Gas Company and the Brighton Gas Company. As part of the conversion to natural gas, in 1971 the corporation acquired the Geelong Gas Company, one of only two remaining private gas companies in Victoria at the time. The Ballarat Gas Company closed at the time. The G&FC was wound up in June 1995.
Singapore Power Limited, doing business as SP Group is a state-owned electricity and gas distribution company in Singapore. SP Group is the corporatised entity of the former electricity and gas departments of the Public Utilities Board (PUB). SP Group was first incorporated as a commercial entity on 1 October 1995 as Singapore Power and Gas to take over the electricity and gas businesses of the state provider, PUB.
AGL Energy Ltd is an Australian listed public company involved in both the generation and retailing of electricity and gas for residential and commercial use. AGL is Australia's largest electricity generator, and the nation's largest carbon emitter. In 2022, 83% of its energy came from burning coal. It produces more emissions as a single company than the nations of New Zealand, Portugal or Sweden, according to its largest shareholder, Mike Cannon-Brookes, who named it "one of the most toxic companies on the planet".
The energy policy of Australia is subject to the regulatory and fiscal influence of all three levels of government in Australia, although only the State and Federal levels determine policy for primary industries such as coal. Federal policies for energy in Australia continue to support the coal mining and natural gas industries through subsidies for fossil fuel use and production. Australia is the 10th most coal-dependent country in the world. Coal and natural gas, along with oil-based products, are currently the primary sources of Australian energy usage and the coal industry produces over 30% of Australia's total greenhouse gas emissions. In 2018 Australia was the 8th highest emitter of greenhouse gases per capita in the world.
Energy in Victoria, Australia is generated using a number of fuels or technologies, including coal, natural gas and renewable energy sources. Brown coal, historically, was the main primary energy source for the generation of electricity in the state, accounting for about 85% of electricity generation in 2008. The amount of coal-fired power has decreased significantly with the closure in 2017 of the Hazelwood power station which supplied around 20% of Victoria's electricity, and to a lesser extent with the exit of Anglesea power station in 2015. Brown coal is one of the largest contributors to Australia's total domestic greenhouse gas emissions and a source of controversy for the country. Australia is one of the highest polluters of greenhouse gas per capita in the world.
The electricity sector in Argentina constitutes the third largest power market in Latin America. It relies mostly on thermal generation and hydropower generation (36%). The prevailing natural gas-fired thermal generation is at risk due to the uncertainty about future gas supply.
The Electricity Commission of New South Wales, sometimes called Elcom, was a statutory authority responsible for electricity generation and its bulk transmission throughout New South Wales, Australia. The commission was established on 22 May 1950 by the Electricity Commission Act 1950 to take control of power generation in the State. The commission acquired the power stations and main transmission lines of the four major supply authorities: Southern Electricity Supply, Sydney County Council, the Department of Railways and the Electric Light and Power Supply Corporation Ltd, known as the Balmain Electric Light Company, to acquire the Balmain Power Station. The commission was responsible for the centralised co-ordination of electricity generation and transmission in the State, and some local councils continued to be distributors of electricity only.
The Australian Energy Market Operator (AEMO) performs an array of gas and electricity market, operational, development and planning functions. It manages the National Electricity Market (NEM), the Wholesale Electricity Market (WA) (WEM) and the Victorian gas transmission network. AEMO also facilitates electricity and gas full retail contestability, overseeing these retail markets in eastern and southern Australia. It is additionally responsible for national transmission planning for electricity and the establishment of a Short Term Trading Market (STTM) for gas.
The Australian electricity sector has been historically dominated by coal-fired power stations, but renewables are forming a rapidly growing fraction of supply.
The electricity sector in the Philippines provides electricity through power generation, transmission, and distribution to many parts of the country. The Philippines is divided into three electrical grids, one each for Luzon, the Visayas and Mindanao. As of June 2016, the total installed capacity in the Philippines was 20,055 megawatts (MW), of which 14,348 MW was on the Luzon grid. As of June, 2016, the all-time peak demand on Luzon was 9,726 MW at 2:00 P.M. on May 2, 2016; on Visayas was 1,878 MW at 2:00 P.M. on May 11, 2016; and on Mindanao was 1,593 MW at 1:35 P.M. on June 8, 2016. However, about 12% of Filipinos have no access to electricity. The Philippines is also one of the countries in the world that has a fully functioning electricity market since 2006 called the Philippine Wholesale Electricity Spot Market(WESM) and is operated by an independent market operator.
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