Seminar | The NEM in the transition: the need to manage the exit of coal
Watch the video
Welcome to Monash Energy Seminar Series. We look forward to seeing you participating in informative seminars that are held monthly for the presentation and discussion of various energy and climate change topics with light refreshments and networking to follow.
We aim to bring together Monash and external energy and climate experts to promote a cross-disciplinary understanding of challenges and opportunities rising during the global energy crisis. Building and growing the Monash Energy community is the priority of the Monash Energy Institute. By offering the Monash Energy Seminar Series, we are enabling the opportunity for all passionate and interested in energy, including academics,, students, practitioners, professionals and volunteers to congregate in one space.
We aim to create a collaborative environment that helps to share research, expertise, practice and innovative ideas for developing a clean and sustainable energy future. Monash Energy Seminars are open and free events, but do require registration.
Abstract
In this seminar, Professor Flavio Menezes will tell us how we can measure the impact of renewables on market prices, where the key point is that renewables undermine the economics of coal-fired power generation. While this seems obvious, economists’ contribution is to measure the impact and to show how quickly market dynamics are changing.
Prof Menezes will also present the work he has been doing to develop and implement a methodology to measure the market impact of the unanticipated exit of Hazelwood in 2017. While the NEM has changed since 2017 due to a new rule requiring early notice of exit and increased penetration of renewables, their impact will be even more significant. The events of June 2022 illustrate these assumptions. Prof Menezes will summarise with a high-level suggestion of the mechanism for managing the exit of coal.
If you're unable to attend this seminar in person, click here to join the session via zoom.
Speaker
Flavio Menezes is a Professor of Economics and director of the Australian Institute for Business and Economics at the University of Queensland (UQ). He is also the Chair of the Queensland Competition Authority. He is a former president of the Economic Society of Australia (Queensland), was a member of the advisory board of the federal government’s Deregulation Taskforce and an elected member of UQ’s Academic Board and its Standing Committee. He is a former Head of the School of Economics at UQ, the chair of the Research Evaluation Committee for Economics and Commerce, Excellence of Research in Australia (ERA) 2018, and a member of the same committee for ERA 2015.
Professor Menezes is a fellow of the Academy of the Social Sciences in Australia. He is an associate editor of Journal of Public Economic. He has published extensively on the economics of auctions, competition and regulatory economics, industrial organisation, and market design.
Professor Menezes’ engagement with industry and government is significant. His experience includes advising the federal government, the AEMC, the ACCC, IPART, the QCA, and the ACT and Victorian governments on market design issues in regulatory environments. He has also provided economic advice to many private and public organisations on competition and regulatory issues in defence, fisheries, water, gambling, natural resources, energy, smart cities, banking, health, transport and telecommunications.
Event host
Dr Anke Leroux is an environmental and natural resource economist and Associate Professor at the Department of Economics at Monash University.
Event Details
- Date:
- 25 November 2022 at 11:00 am – 12:30 pm
- Venue:
- G30, New Horizons, 20 Research Way, Clayton
- Campus:
- Clayton Campus
- Cost:
- Free
Description
Watch the video
Welcome to Monash Energy Seminar Series. We look forward to seeing you participating in informative seminars that are held monthly for the presentation and discussion of various energy and climate change topics with light refreshments and networking to follow.
We aim to bring together Monash and external energy and climate experts to promote a cross-disciplinary understanding of challenges and opportunities rising during the global energy crisis. Building and growing the Monash Energy community is the priority of the Monash Energy Institute. By offering the Monash Energy Seminar Series, we are enabling the opportunity for all passionate and interested in energy, including academics,, students, practitioners, professionals and volunteers to congregate in one space.
We aim to create a collaborative environment that helps to share research, expertise, practice and innovative ideas for developing a clean and sustainable energy future. Monash Energy Seminars are open and free events, but do require registration.
Abstract
In this seminar, Professor Flavio Menezes will tell us how we can measure the impact of renewables on market prices, where the key point is that renewables undermine the economics of coal-fired power generation. While this seems obvious, economists’ contribution is to measure the impact and to show how quickly market dynamics are changing.
Prof Menezes will also present the work he has been doing to develop and implement a methodology to measure the market impact of the unanticipated exit of Hazelwood in 2017. While the NEM has changed since 2017 due to a new rule requiring early notice of exit and increased penetration of renewables, their impact will be even more significant. The events of June 2022 illustrate these assumptions. Prof Menezes will summarise with a high-level suggestion of the mechanism for managing the exit of coal.
If you're unable to attend this seminar in person, click here to join the session via zoom.
Speaker
Flavio Menezes is a Professor of Economics and director of the Australian Institute for Business and Economics at the University of Queensland (UQ). He is also the Chair of the Queensland Competition Authority. He is a former president of the Economic Society of Australia (Queensland), was a member of the advisory board of the federal government’s Deregulation Taskforce and an elected member of UQ’s Academic Board and its Standing Committee. He is a former Head of the School of Economics at UQ, the chair of the Research Evaluation Committee for Economics and Commerce, Excellence of Research in Australia (ERA) 2018, and a member of the same committee for ERA 2015.
Professor Menezes is a fellow of the Academy of the Social Sciences in Australia. He is an associate editor of Journal of Public Economic. He has published extensively on the economics of auctions, competition and regulatory economics, industrial organisation, and market design.
Professor Menezes’ engagement with industry and government is significant. His experience includes advising the federal government, the AEMC, the ACCC, IPART, the QCA, and the ACT and Victorian governments on market design issues in regulatory environments. He has also provided economic advice to many private and public organisations on competition and regulatory issues in defence, fisheries, water, gambling, natural resources, energy, smart cities, banking, health, transport and telecommunications.
Event host
Dr Anke Leroux is an environmental and natural resource economist and Associate Professor at the Department of Economics at Monash University.
Event Contact
- Name
- energy-institute@monash.edu
- Phone
- Organisation