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dc.contributor.authorSimshauser, Paul
dc.contributor.authorTiernan, Anne
dc.date.accessioned2019-07-11T03:03:47Z
dc.date.available2019-07-11T03:03:47Z
dc.date.issued2019
dc.identifier.issn0313-6647
dc.identifier.doi10.1111/1467-8500.12328
dc.identifier.urihttp://hdl.handle.net/10072/382585
dc.description.abstractAustralia's National Electricity Market (NEM) became unstable in 2016/2017 after 20 years of consistent performance. The South Australian grid collapsed on 28 September 2016 – Australia's first black system event since 1964. Wholesale prices in the region trebled to $120+/MWh; soon after Hazelwood power station announced its exit with just 5 months’ notice. The problem spread as prices elsewhere doubled to $89/MWh from a long‐run average of $42.50. The NEM is experiencing a supply‐side crisis. Consistent with the requirement to decarbonise the system, aged coal‐fired generators are exiting but decades of climate change policy discontinuity has frustrated the entry of new plant. Long‐dated capital‐intensive asset industries like electricity supply anticipate a conventional policy cycle. What they have experienced instead is consistent with garbage can theory. Policy clarity may be emerging for only the second time in two decades. As with the NEM, its durability will depend on cooperative federalism.
dc.description.peerreviewedYes
dc.languageEnglish
dc.language.isoeng
dc.publisherWiley-Blackwell Publishing Asia
dc.publisher.placeAustralia
dc.relation.ispartofpagefrom1
dc.relation.ispartofpageto20
dc.relation.ispartofjournalAustralian Journal of Public Administration
dc.subject.fieldofresearchEconomics
dc.subject.fieldofresearchOther economics not elsewhere classified
dc.subject.fieldofresearchHuman society
dc.subject.fieldofresearchcode38
dc.subject.fieldofresearchcode389999
dc.subject.fieldofresearchcode44
dc.titleClimate change policy discontinuity and its effects on Australia's national electricity market
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.hasfulltextNo Full Text
gro.griffith.authorSimshauser, Paul E.


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