dc.contributor.author | Simshauser, Paul | |
dc.contributor.author | Nelson, Tim | |
dc.date.accessioned | 2018-05-27T22:25:00Z | |
dc.date.available | 2018-05-27T22:25:00Z | |
dc.date.issued | 2012 | |
dc.identifier.issn | 1757-6385 | |
dc.identifier.doi | 10.1108/17576381211228970 | |
dc.identifier.uri | http://hdl.handle.net/10072/375536 | |
dc.description.abstract | Purpose: – The most problematic area of any carbon policy debate is the treatment of incumbent CO2
intensive coal-fired electricity generators. Policy applied to the electricity sector is rarely well guided
by macroeconomic theory and modeling alone, especially in the case of carbon where the impacts are
concentrated, involve a small number of firms and an essential service. The purpose of this paper is to
examine the consequences of poor climate change policy development on the efficiency of capital
markets within the Australian electricity sector.
Design/methodology/approach: – The authors conducted a survey of Australian project finance
professionals to determine the risk profiles to be applied to the electricity sector, in the event a
poorly-designed climate change policy is adopted.
Findings: – The Australian case study finds that if zero compensation results in the financial distress
of project financed coal generators, finance costs for all plant rises, including new gas and renewables,
leading to unnecessary increases in electricity prices. Accordingly, an unambiguous case for providing
structural adjustment assistance to coal generators exists on the grounds of economic efficiency.
Originality/value: – Accordingly, the paper shows that an unambiguous case for providing
structural adjustment assistance to coal generators exists, on the grounds of economic efficiency. | |
dc.description.peerreviewed | Yes | |
dc.language | English | |
dc.language.iso | eng | |
dc.publisher | Emerald Publishing Group | |
dc.relation.ispartofpagefrom | 104 | |
dc.relation.ispartofpageto | 127 | |
dc.relation.ispartofissue | 2 | |
dc.relation.ispartofjournal | Journal of Financial Economic Policy | |
dc.relation.ispartofvolume | 4 | |
dc.subject.fieldofresearch | Applied Economics not elsewhere classified | |
dc.subject.fieldofresearch | Policy and Administration | |
dc.subject.fieldofresearchcode | 140299 | |
dc.subject.fieldofresearchcode | 1605 | |
dc.title | The second-round effects of carbon taxes on power project finance | |
dc.type | Journal article | |
dc.type.description | C1 - Articles | |
dc.type.code | C - Journal Articles | |
dc.description.version | Accepted Manuscript (AM) | |
gro.faculty | Griffith Business School, Department of Accounting, Finance and Economics | |
gro.rights.copyright | © 2012 Emerald. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version. | |
gro.hasfulltext | Full Text | |
gro.griffith.author | Simshauser, Paul E. | |
gro.griffith.author | Nelson, Tim A. | |