An agent-based model (ABM) developed at Auckland University was used to analyse the New Zealand wholesale electricity market. The model suggests considerable market abuse and quantified the combined market rents for 2006 and 2008 to be $2.6billion, when compared with a perfectly competitive market as counterfactual.
an AGent-baSed mOdel (aBm) DeVelOpED At aucKlaND UNIVErSiTy was uSed tO Analyse thE nEW zealand WHolESAle eLeCTRIcIty MaRket. the MoDeL suggEsts cOnsideraBLe maRkeT abuse And qUantIfIeD the Combined marKet reNts for 2006 and 2008 To be $2.6biLlioN, whEn comPaREd WitH a pErfeCtly CompeTITIve maRKet aS countErfaCtuAl.