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An examination of the dynamics of the South Australian market finds that decarbonization-related policy objectives for the South Australian electricity system are unachievable with continued reliance upon an energy-only market. To avoid extreme pricing volatility and possible security of supply issues, it is vital that Australia urgently review its energy market frameworks to ensure they are better integrated with climate change policies. [ABSTRACT FROM AUTHOR]

Key elements of EPA's Clean Power Plan rely on forecasted electricity sales from the National Energy Modeling System (NEMS), but NEMS has consistently over-projected electricity sales. An analysis of the model's bias as applied by EPA raises concerns about the stringency of the proposed emissions targets. [ABSTRACT FROM AUTHOR]