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Impact of Carbon Prices: State Production Trends, Inter-state Trade and Carbon Emission Reduction Outcomes in the NEM over the period 2007- 2009

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  • Phil Wild

    ()
    (Department of Economics, University of Queensland)

  • William Paul Bell

    ()
    (Department of Economics, University of Queensland)

  • John Foster

    ()
    (Department of Economics, University of Queensland)

Abstract

The aim of this article is to investigate the impact that the introduction of a carbon price signal will have on fuel switching within the electricity generation sector from sources of generation with high carbon footprints to sources of generation with lower carbon footprints. To examine this issue, we assess production trends, inter-state trade and carbon emission outcomes in the states making up the Australian National Electricity Market (NEM). In order to assess this, we employ an agent based model of the NEM called the ANEM model which contains many of the salient features of the NEM: intra-state and inter-state transmission branches, regional location of generators and load centres and accommodation of unit commitment features. A DC OPF algorithm is used to determine optimal dispatch of generation plant within the ANEM model. We utilise ANEM model scenario runs to examine the impact of carbon prices on production trends, inter-state trade and on carbon emission outcomes.

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File URL: http://www.uq.edu.au/eemg/docs/workingpapers/2012-6.pdf
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Bibliographic Info

Paper provided by School of Economics, University of Queensland, Australia in its series Energy Economics and Management Group Working Papers with number 6-2012.

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Date of creation: Apr 2012
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Handle: RePEc:qld:uqeemg:6-2012

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Keywords: carbon price; carbon emission reductions; agent-based model; DC OPF Algorithm; Australian National Electricity Market (NEM);

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  1. Phil Wild & William Paul Bell & John Foster, 2012. "An Assessment of the Impact of the Introduction of Carbon Price Signals on Prices, Production Trends, Carbon Emissions and Power Flows in the NEM for the period 2007-2009," Energy Economics and Management Group Working Papers 4-2012, School of Economics, University of Queensland, Australia.
  2. Paul Simshauser & Thao Doan, 2009. "Emissions Trading, Wealth Transfers and the Wounded Bull Scenario in Power Generation," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 42(1), pages 64-83, 03.
  3. Paul Simshauser & Phillip Wild, 2009. "The Western Australian Power Dilemma ," Australian Economic Papers, Wiley Blackwell, vol. 48(4), pages 342-369, December.
  4. Simshauser, Paul, 2008. "On Emission Permit Auction vs. Allocation and the Structural Adjustment of Incumbent Power Generators in Australia," The Electricity Journal, Elsevier, vol. 21(10), pages 30-41, December.
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