Algorithmic Collusion and Australian Competition Law: Trouble Ahead for the National Electricity Market?

2021 ◽  
Vol 44 (4) ◽  
Author(s):  
Jeremy D Chan
Keyword(s):  
Electricity Market ◽  
Competition Law ◽  
Current State ◽  
Specific Analysis ◽  
Concerted Practice ◽  
Wait And See ◽  
The Law ◽  
National Electricity Market

This article explores the interaction between the National Electricity Law and potential algorithmic collusion in the National Electricity Market (‘NEM’). Reviewing the current state of Australian competition law, this article concludes that the law does not prohibit algorithmic collusion in the NEM, even though such collusion has serious ramifications for Australian consumers. Despite recent hesitancy to addressing algorithmic collusion, this article argues we cannot afford to ‘wait and see’ and proposes nuanced solutions that appropriately address algorithmic collusion in the NEM. These solutions include a notification regime, a reduction in bidding transparency, and a novel definition to ‘concerted practice’ that would ensure competition law captures tacit and autonomous algorithmic collusion. More generally, the approach in this article highlights the need for market-specific analysis of algorithmic collusion, particularly as the competitive impact of using algorithmic technology depends on the circumstances in which the algorithm is deployed.

scholarly journals Protecting the ‘Law’ in Competition Law

2020 ◽  
Vol 11 (7) ◽  
pp. 333-334
Author(s):  
Pablo Ibáñez Colomo
Keyword(s):  
Competition Law ◽  
The Law

Law and morality in evolutionary competition: Law: 1, morality: 0

Think ◽  
2007 ◽  
Vol 5 (14) ◽  
pp. 93-102
Author(s):  
Colin P.A. Jones
Keyword(s):  
Competition Law ◽  
Law And Morality ◽  
The Law

Is the law displacing morality? And should it?‘Law is a bottomless pit and I have no inclination to fathom its depths.’

Assessing Government’s Performance Management Capability: the Case of the Australian Electricity Industry

2004 ◽  
Vol 70 (1) ◽  
pp. 123-136 ◽  
Author(s):  
Judy Johnston
Keyword(s):  
Performance Management ◽  
Electricity Market ◽  
Information Needs ◽  
Private Investment ◽  
Electricity Industry ◽  
Management Information ◽  
Business Decision ◽  
Management Capability ◽  
National Electricity Market ◽  
The Impact

When governments open up opportunities for private investment in traditional public sector areas, it is increasingly clear that a useful range of performance management information needs to be available to both government and business. Government needs to know how it is performing, comparatively, within and beyond its own domain, for the development of public policy and productivity enhancement. Business needs to know, understand and monitor the industry environment in which investment is contemplated or has already taken place. Performance measurement and monitoring is especially important where governments wish to attract foreign direct investment (FDI) to their shores. Whether governments manage performance and information well or are still constrained by bureaucratic and political thinking is still at issue. Using the example of the contrived national electricity market in Australia, this article, through literature and document review, examines the likely value to government and business of performance information, now available in the public domain. First, the article considers some of the changes to the Australian electricity industry. Second, specific performance indicators relevant to the national electricity market are examined in terms of their utility for government and business decision-making. Third, the impact of the political environment on performance management information is explored. The article concludes that while some important quantitative performance management information is available in a rational sense, other more political, qualitative indicators also need to be taken into account.

Russian competition law: history, current state and development prospects

2020 ◽  
pp. 6-15
Author(s):  
D. I. Seregin
Keyword(s):  
Competition Law ◽  
Internal Conflicts ◽  
Russian Economy ◽  
Current State ◽  
Protection Legislation ◽  
History Of ◽  
Development Prospects

The article is devoted to the study of prerequisites for the codification of competition protection legislation.The author starts from the history of competition law, which is divided into four stages, and comes to the conclusion that Russian competition law was formed after the transition of the Russian economy to the market and does not have continuity with pre-existing legislation.The study of the current state of competition law allowed the author to draw a conclusion about the relevance of its codification. This conclusion is justified, in particular, by the considerable volume of regulatory material that is devoted to the protection of competition, its distribution on different legislative acts, as well as the presence of internal conflicts and inconsistencies in it.

Catholic Thought and Intellectual Property: Learning from the Ethics of Obligation

2009 ◽  
Vol 25 (2) ◽  
pp. 415-451 ◽  
Author(s):  
Gabriel J. Michael
Keyword(s):  
Intellectual Property ◽  
Global Health ◽  
Twelfth Century ◽  
Ethical Obligation ◽  
Medical Technologies ◽  
Sick Person ◽  
Current State ◽  
Alive Today ◽  
The Law ◽  
Ethical Obligations

The twelfth century canon lawyer Gratian once wrote “Feed the man dying of hunger, because if you have not fed him you have killed him.” If Gratian were alive today, he might take a look at the current state of global health and say, “Succor the woman dying of disease, because if you have not helped her you have killed her.” Both of these statements express an ethical obligation: if I have food, and someone else who is hungry does not, I am obligated to share my food. Likewise, if I have medicine, and someone else who is sick does not, I am obligated to share my medicine.Unfortunately, with regard to medicines and other essential products, modern institutions of intellectual property often fail to enforce or even recognize such ethical obligations. In some ways, these institutions uphold an even harsher attitude toward intellectual property than other types of property. With food, even if the hungry person receives no bread, he is still permitted to produce his own. With medicines, medical technologies, and other types of goods that are protected by institutions of intellectual property, the law can and often does prevent the sick person from producing her own.

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