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dc.contributor.authorNelson, James
dc.contributor.authorSimshauser, Paul
dc.date.accessioned2017-05-03T12:43:12Z
dc.date.available2017-05-03T12:43:12Z
dc.date.issued2013
dc.date.modified2014-05-22T22:17:58Z
dc.identifier.issn0301-4215
dc.identifier.doi10.1016/j.enpol.2012.10.059
dc.identifier.urihttp://hdl.handle.net/10072/58309
dc.description.abstractDeregulated energy markets were founded on the Merchant Power Producer, a stand-alone generator that sold its production to the spot and short-term forward markets, underpinned by long-dated project finance. The initial enthusiasm that existed for investment in existing and new merchant power plant capacity shortly after power system deregulation has progressively dissipated, following an excess entry result. In this article, we demonstrate why this has become a global trend. Using debt-sizing parameters typically used by project banks, we model a benchmark plant, then re-simulate its performance using live energy market price data and find that such financings are no longer feasible in the absence of long-term Power Purchase Agreements.
dc.description.peerreviewedYes
dc.description.publicationstatusYes
dc.format.extent806228 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglish
dc.language.isoeng
dc.publisherElsevier
dc.publisher.placeUnited Kingdom
dc.relation.ispartofstudentpublicationN
dc.relation.ispartofpagefrom298
dc.relation.ispartofpageto310
dc.relation.ispartofjournalEnergy Policy
dc.relation.ispartofvolume53
dc.rights.retentionY
dc.subject.fieldofresearchFinance
dc.subject.fieldofresearchcode350202
dc.titleIs the Merchant Power Producer a broken model?
dc.typeJournal article
dc.type.descriptionC1 - Articles
dc.type.codeC - Journal Articles
gro.facultyGriffith Business School, Department of Accounting, Finance and Economics
gro.rights.copyright© 2013 Elsevier. 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.date.issued2013
gro.hasfulltextFull Text
gro.griffith.authorSimshauser, Paul E.


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