文章基本信息

标题：Implications of Diverging Social and Private Discount Rates for Investments in the German Power Industry. A New Case for Nuclear Energy?
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作者：Heinzel, Christoph
期刊名称：Dresden Discussion Paper Series in Economics / Dresden University of Technology, Faculty of Business Management and Economics
印刷版ISSN：0945-4829
出版年度：2008
卷号：1
出版社：Dresden
摘要：For power-plant investments, utilities rely after liberalisation on private financial markets, which are in general distorted. The (related) split of social and private time-preference rates provides a new reason for a welfare-enhancing policy intervention, complementary to environmental policy (Heinzel and Winkler 2007). This paper quantifies it and studies its relevance for the German power industry around 2015. The distortions remain moderate as compared to other investment subsidies. However, in contrast to environmental policy alone, its additional implementation makes nuclear power the first option even in the nuclear high-cost scenario. Both policies enhance ecological structural change, which end-of-pipe abatement delays.
关键词：distorted time preferences, environmental and technology policy, conventional energy technologies