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Hi5003 - Energy Policy in Australia Report

8 Pages1444 Words171 Views
   

Holmes Institute Sydney

   

HI5003 Economics for Business (HI5003)

   

Added on  2020-03-04

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Hi5003 -  Energy Policy in Australia Report we discuss the Government in Australia gives much concerning efficiently designing energy policy of the nation. In the last year, the nation suffered from an interrupted supply of electricity. The essence of the story Energy minister Josh Frydenberg in the article gives the opinion that their newly build coal plants run with the principle of high efficiency and low emissions can make a significant contribution to the energy mix in Australia. 

Hi5003 - Energy Policy in Australia Report

   

Holmes Institute Sydney

   

HI5003 Economics for Business (HI5003)

   Added on 2020-03-04

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Running head: ENERGY POLICY IN AUSTRALIAEnergy Policy in AustraliaName of the StudentName of the UniversityAuthor note
Hi5003 - Energy Policy in Australia Report_1
1ENERGY POLICY IN AUSTRALIATable of ContentsIntroduction......................................................................................................................................2Essence of the story.........................................................................................................................2Economic theories and concept.......................................................................................................3Free market..................................................................................................................................3Market failure..............................................................................................................................4Government support policy.........................................................................................................4Recommendation.............................................................................................................................5Conclusion.......................................................................................................................................5References........................................................................................................................................6
Hi5003 - Energy Policy in Australia Report_2
2ENERGY POLICY IN AUSTRALIAIntroduction Government in Australia gives much concern in efficiently designing energy policy of thenation. In the last year, the nation suffered from interrupted supply of electricity. Consideringthis, government aims at implementing a stable long run policy target. Different layers ofgovernment actively participate in resolving problems in the energy sector. Primary industriesincluding coal and different minerals, federal and state government intervenes for ensuringundisturbed supply of power. In a recently published article energy minister in Australia, stresseson supporting the new coal plants for a secure energy future for Australia. The paper analyzedthe article using economic theories and concept.Essence of the storyEnergy minister Josh Frydenberg in the article gives opinion that there newly build coalplants runs with the principal of high efficient and low emission can make significantcontribution to the energy mix in Australia. Government is ready to support the newly buildplants. Along with existing base load power plants this newly build, coal plants should giveequal importance (theguardian.com 2017). There are provisions of government intervention tosecure best outcomes in the market for electricity. While intervening in the market, governmentwill also keep in mind the free market policy and intervene only in areas where it is needed.Therefore, energy market in Australia will experience a collaboration of free market strategy andgovernment intervention. Energy minister announce that given the target for pursuing a clean energy targetgovernment is taking its time before making any decision. The twin objective are supplying
Hi5003 - Energy Policy in Australia Report_3

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