Electricity pricing in New Zealand and the Australian State of Queensland: Accounting for the impact of sector restructuring

Hooks, Jill & Tooley, Stuart (2015) Electricity pricing in New Zealand and the Australian State of Queensland: Accounting for the impact of sector restructuring. Financial Accountability and Management, 31(4), pp. 439-462.

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Abstract

The electricity industries of New Zealand (NZ) and the Australian state of Queensland have undergone substantial structural and regulatory reform with the common intent to improve economic efficiency. Deregulation and privatisation have been key elements of the reform but have been approached differently by each jurisdiction. This study traces the link between structural and regulatory regimes and asset valuation, profits and, ultimately, pricing. The study finds that key drivers in recent price increases are the government-owned generation and retail sector in NZ and the government-owned distribution sector in Queensland. It is concluded that, contrary to the rationale for the imposition of regulatory controls in a nonmarket environment, the regulatory regimes appear to have contributed to higher rather than lower pricing structures.

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ID Code: 91170
Item Type: Journal Article
Refereed: Yes
Keywords: electricity, regulation, asset valuation, electricity pricing, electricity reform
DOI: 10.1111/faam.12064
ISSN: 0267-4424
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > ACCOUNTING AUDITING AND ACCOUNTABILITY (150100)
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Accountancy
Copyright Owner: Copyright 2015 John Wiley & Sons Ltd
Deposited On: 11 Dec 2015 00:21
Last Modified: 07 Dec 2016 21:50

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