Full social cost pricing in the energy sector: The case of electricity generation in New South Wales and Victoria

Article


Lawrey, Roger. 1999. "Full social cost pricing in the energy sector: The case of electricity generation in New South Wales and Victoria ." International Journal of Social Economics. 26 (7/8/9), pp. 925-947. https://doi.org/10.1108/03068299910245642
Article Title

Full social cost pricing in the energy sector: The case of electricity generation in New South Wales and Victoria

ERA Journal ID18391
Article CategoryArticle
AuthorsLawrey, Roger
Journal TitleInternational Journal of Social Economics
Journal Citation26 (7/8/9), pp. 925-947
Number of Pages20
Year1999
PublisherEmerald
Place of PublicationUnited Kingdom
ISSN0306-8293
1758-6712
Digital Object Identifier (DOI)https://doi.org/10.1108/03068299910245642
Web Address (URL)https://www.emerald.com/insight/content/doi/10.1108/03068299910245642/full/html
Abstract

The recent interconnection and trade of electricity between NSW and Victoria is likely to exacerbate any misallocation of resources due to inefficient pricing. The aim of this article is to investigate the likely divergence between electricity generation costs using current market prices of coal and natural gas, and those when coal and natural gas are priced efficiently. To do so, the paper applies the concept of full social cost pricing to five different generation technologies in the two states. It concludes that the current movement to privatisation and interconnection in the electricity sector, while it may promote pricing closer to marginal private costs, will not result in efficient outcomes in the presence of external costs and the different tax regimes which currently apply to each generation fuel and in each state. © 1999, MCB UP Limited

KeywordsElectricity; Environment; Pricing
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Byline AffiliationsQueensland University of Technology
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