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1 – 10 of 21The report comes as Prime Minister Scott Morrison lobbies his National Party partners in the governing coalition to back a target of net zero emissions by 2050 prior to next…
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DOI: 10.1108/OXAN-DB264670
ISSN: 2633-304X
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Geographic
Topical
Anurag K. Srivastava, Sukumar Kamalasadan, Daxa Patel, Sandhya Sankar and Khalid S. Al‐Olimat
The electric power industry has been moving from a regulated monopoly structure to a deregulated market structure in many countries. The purpose of this study is to…
Abstract
Purpose
The electric power industry has been moving from a regulated monopoly structure to a deregulated market structure in many countries. The purpose of this study is to comprehensively review the existing markets to study advantages, issues involved and lessons learnt to benefit emerging electricity markets.
Design/methodology/approach
The paper employs a comprehensive review of existing competitive electricity market models in USA (California), UK, Australia, Nordic Countries (Norway), and developing country (Chile) to analyze the similarities, differences, weaknesses, and strengths among these markets based on publically available data, literature review and information.
Findings
Ongoing or forthcoming electricity sector restructuring activities in some countries can be better designed based on lessons learnt from existing markets and incorporating their own political, technical and economical contexts. A template for design of successful electricity market has also been presented.
Research limitations/implications
This study is limited to a comparative analysis of five markets and can be extended in the future for other existing and emerging electricity markets.
Practical implications
The discussed weaknesses and strengths of existing electricity markets in this study can be practically utilized to improve the electricity industry market structures leading to several social benefits including lower electricity cost.
Originality/value
The comprehensive review and analysis of five existing markets, physically located in different continents, may be used as an assistance or reference guide to benefit the emerging electricity markets in other countries.
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Keywords
Australian gas exports and energy policy.
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DOI: 10.1108/OXAN-DB221454
ISSN: 2633-304X
Keywords
Geographic
Topical
Australia’s energy network is undergoing transition. While the government’s current priority is managing COVID-19, the issue of energy and renewables will resurge, and it has…
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DOI: 10.1108/OXAN-DB255175
ISSN: 2633-304X
Keywords
Geographic
Topical
AUSTRALIA: Regulator implements electricity price cap
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DOI: 10.1108/OXAN-ES270804
ISSN: 2633-304X
Keywords
Geographic
Topical
Alan Rai and Tim Nelson
This paper aims to provide investors’ views on financing costs and barriers to entry into the electricity generation sector, with a focus on investors’ views on potential impacts…
Abstract
Purpose
This paper aims to provide investors’ views on financing costs and barriers to entry into the electricity generation sector, with a focus on investors’ views on potential impacts on cost of capital from adopting nodal pricing and financial transmission rights (FTRs). The implications for policymakers and policy reforms are also discussed in detail.
Design/methodology/approach
Survey-based data collection of investors and developers in electricity generation, consisting of multiple choice questions from a closed list of discrete choices, binary-choice questions, and questions with free-text/open-ended answers.
Findings
Across survey respondents, weighted-average cost of capital (WACCs) were broadly unchanged over 2019, with increases for undiversified/non-integrated participants offset by decreases for horizontally integrated participants. Cost of equity has risen, whereas cost of debt has fallen. Nodal pricing-cum-FTRs were estimated to increase WACCs by 150–200 basis points p.a. (15–20%), reflecting concerns around the firmness of FTRs and ability to automatically access intraregional settlement residues.
Research limitations/implications
These findings have energy policy implications, namely, the need to consider the interaction between economic theory and real-world financing models when designing and implementing fundamental energy sector reforms.
Practical implications
The need to consider implementation and transitional issues (e.g. grandfathering of existing rights, focusing on reducing the largest barriers to entry) is associated with implementing nodal pricing.
Originality/value
Unique set of survey questions and insights that have not previously been addressed in an Australian context; what-if analysis not previously done in an Australian context
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Coal-fired plants are due to close in 20 years but still provide some 60% of Australia’s electricity. The new plan should attract more investment in the renewables sector…
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DOI: 10.1108/OXAN-DB271068
ISSN: 2633-304X
Keywords
Geographic
Topical
Although one-third of Australian electricity now comes from clean sources, a series of regulatory issues and infrastructure project delays is leading to an exodus of private…
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DOI: 10.1108/OXAN-DB285061
ISSN: 2633-304X
Keywords
Geographic
Topical
Yu Ying, Fengjie Jing, Bang Nguyen and Junsong Chen
The purpose of this paper is to improve our understanding of how firms can maintain longitudinal satisfaction. Previous research on longitudinal satisfaction demonstrates that the…
Abstract
Purpose
The purpose of this paper is to improve our understanding of how firms can maintain longitudinal satisfaction. Previous research on longitudinal satisfaction demonstrates that the product attributes weight on satisfaction shifts over time. However, the existing literature lacks an understanding of the intervening mechanism. Inspired by the hedonic adaptation theory, this research first argues that the shift depends on the attribute’s variability. Then, it posits that hedonic adaptation might play a mediation role in connecting the attribute’s weight and longitudinal satisfaction. Finally, the research incorporates consumer intentional activities into the antecedents of longitudinal satisfaction.
Design/methodology/approach
The authors test a series of hypotheses across two studies. Using the Slope-shift Parameter Theory and Structural Equation Modeling, data collected from smartphone owners in four MBA classes (Study 1) and eight business venues in China (Study 2) are analyzed to confirm the research model.
Findings
The findings suggest that hedonic adaptation occurs during the ownership process. It is revealed that both the attribute’s variability and consumption behavior play important roles in sustaining long-term satisfaction, confirming the mediating effects of hedonic adaptation on the relationship above.
Originality/value
The hedonic adaptation theory is applied to study the mediating role of product attribute variability and consumption behavior in sustaining customer satisfaction over time. Three contributions are offered: First, hedonic adaptation occurs during the ownership process; second, the attribute’s variability and consumption behavior both play important roles in sustaining longitudinal satisfaction; third, the mediating effects of hedonic adaptation are confirmed for the relationship between attribute’s variability and sustaining satisfaction and consumption behavior and sustaining satisfaction.
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This paper offers an alternative approach to assessing contagions in price and load in the Australian interconnected power markets. This approach enabled us to identify a…
Abstract
Purpose
This paper offers an alternative approach to assessing contagions in price and load in the Australian interconnected power markets. This approach enabled us to identify a high-risk region and assess the direction of contagions from both buyers' and sellers' perspectives.
Design/methodology/approach
The author used a multinomial logit method to measure contagions. Having identified the exceedance and coexceedances, the author estimated the multinomial logit coefficients of the covariates explaining the probability of a certain number of coexceedances.
Findings
Market participants should recognize the presence of contagion risk and scrutinize price and load dynamics in the NSW and VIC regions to anticipate any simultaneous extreme changes. Regulators need to stabilize the demand and supply sides in those regions to minimize any possible contagions.
Originality/value
This paper presents a pioneering study investigating contagion in the Australian interconnected power markets.
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