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Resolving Energy Policy Dilemmas in an Age of Carbon Constraints

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  • Ross Garnaut

Abstract

type="main" xml:lang="en"> Twenty-first century global energy markets have been disrupted by unexpectedly rapid growth in demand, especially in China, and by policy to reduce carbon emissions. These developments have led to reductions in emissions intensity, reduced costs of non-fossil energy and expanded deployment of unconventional gas technologies. Both traded and non-traded elements of domestic energy prices have increased more in Australia than in other countries in the twenty-first century, as domestic policy has interacted with rising world prices. Policy reform, macro-economic adjustment and utilisation of exceptional endowments of non-fossil energy could see the return of relatively low-cost energy in Australia.

Suggested Citation

  • Ross Garnaut, 2014. "Resolving Energy Policy Dilemmas in an Age of Carbon Constraints," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 47(4), pages 492-508, December.
    • Handle: RePEc:bla:ausecr:v:47:y:2014:i:4:p:492-508
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    Cited by:

    1. Gohdes, Nicholas & Simshauser, Paul & Wilson, Clevo, 2022. "Renewable entry costs, project finance and the role of revenue quality in Australia's National Electricity Market," Energy Economics, Elsevier, vol. 114(C).
    2. Tracey Dodd & Tim Nelson, 2019. "Trials and tribulations of market responses to climate change: Insight through the transformation of the Australian electricity market," Australian Journal of Management, Australian School of Business, vol. 44(4), pages 614-631, November.
    3. Paul Simshauser & Joel Gilmore, 2020. "Is the NEM broken? Policy discontinuity and the 2017-2020 investment megacycle," Working Papers EPRG2014, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    4. Nolan, Tahlia, 2024. "Is pivoting offshore the right policy for achieving decarbonisation in the state of Victoria, Australia's electricity sector?," Energy Policy, Elsevier, vol. 190(C).
    5. Simshauser, P., 2021. "Renewable Energy Zones in Australia’s National Electricity Market," Cambridge Working Papers in Economics 2119, Faculty of Economics, University of Cambridge.
    6. Gohdes, Nicholas & Simshauser, Paul & Wilson, Clevo, 2023. "Renewable investments, hybridised markets and the energy crisis: Optimising the CfD-merchant revenue mix," Energy Economics, Elsevier, vol. 125(C).
    7. Simshauser, Paul & Gilmore, Joel, 2022. "Climate change policy discontinuity & Australia's 2016-2021 renewable investment supercycle," Energy Policy, Elsevier, vol. 160(C).
    8. John Freebairn, 2016. "A Comparison of Policy Instruments to Reduce Greenhouse Gas Emissions," Economic Papers, The Economic Society of Australia, vol. 35(3), pages 204-215, September.
    9. Simshauser, Paul, 2021. "Renewable Energy Zones in Australia's National Electricity Market," Energy Economics, Elsevier, vol. 101(C).
    10. Simshauser, Paul, 2019. "Missing money, missing policy and Resource Adequacy in Australia's National Electricity Market," Utilities Policy, Elsevier, vol. 60(C), pages 1-1.
    11. Simshauser, Paul, 2018. "Garbage can theory and Australia's National Electricity Market: Decarbonisation in a hostile policy environment," Energy Policy, Elsevier, vol. 120(C), pages 697-713.
    12. Ross Garnaut, 2014. "China's Role in Global Climate Change Mitigation," China & World Economy, Institute of World Economics and Politics, Chinese Academy of Social Sciences, vol. 22(5), pages 2-18, September.

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