How to define "energy market" when you're looking for market

I've just finished a 6-part series as an introduction to the University of Canterbury's new short course on Navigating Regulatory Economics with a lecture that Greg Houston gave at the University last November to launch the course.

I mentioned that I had him on the podcast 14 years ago. I enjoyed it so much I thought we should run it again. Even though he lives in Sydney, he's a kiwi - and remains active in the industry here as well as in Australia and around the world, so he's well positioned to reflect on things here.

Last week he explained the policy distinction between temporary and enduring market power. This week he looks at how you actually go about defining a market for generation - and it's not as easy as it sounds.

If you want to hear more from Greg, he's a featured expert in the Navigating Regulatory Economics short online course from the University of Canterbury.

Next week we jump topics. Greg looks at the problems around paying for unforeseen events in regulated industries.