Energy-only markets and renewable energy targets: Complementary policy or policy collision?
作者： Tim Nelson , Cameron Reid , Judith McNeill
DOI: 10.1016/J.EAP.2015.04.001
关键词:
摘要: Australia’s 20% Renewable Energy Target (RET) was designed and implemented against a backdrop of several decades continuous growth in electricity demand. Since the introduction policy 2009 demand has declined continuously. In this article, we analyse how National Electricity Market (NEM) responded to falling significant additional installed capacity as result climate change-related policies. We conclude that an energy-only market design, barriers exit for incumbent plants, time inconsistency resulted investment new renewable energy projects becoming largely intractable. our opinion, changing RET fixed GWh target will not alter fact. To overcome exit, examine three options complementary public short-term: direct government intervention; market-based solution; or regulation. long-term, redesign NEM seems inevitable.
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