Show simple item record

dc.contributor.authorSimshauser, Paul
dc.contributor.authorNelson, Tim
dc.date.accessioned2018-05-27T22:25:00Z
dc.date.available2018-05-27T22:25:00Z
dc.date.issued2012
dc.identifier.issn1757-6385
dc.identifier.doi10.1108/17576381211228970
dc.identifier.urihttp://hdl.handle.net/10072/375536
dc.description.abstractPurpose: – 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.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherEmerald Publishing Group
dc.relation.ispartofpagefrom104
dc.relation.ispartofpageto127
dc.relation.ispartofissue2
dc.relation.ispartofjournalJournal of Financial Economic Policy
dc.relation.ispartofvolume4
dc.subject.fieldofresearchApplied Economics not elsewhere classified
dc.subject.fieldofresearchPolicy and Administration
dc.subject.fieldofresearchcode140299
dc.subject.fieldofresearchcode1605
dc.titleThe second-round effects of carbon taxes on power project finance
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
dc.description.versionAccepted Manuscript (AM)
gro.facultyGriffith 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.hasfulltextFull Text
gro.griffith.authorSimshauser, Paul E.
gro.griffith.authorNelson, Tim A.


Files in this item

This item appears in the following Collection(s)

  • Journal articles
    Contains articles published by Griffith authors in scholarly journals.

Show simple item record