Getting Energy Prices Right: From Principle to Practice

Books, July 22, 2014

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Getting Energy Prices Right: From Principle to Practice

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Bibliographic details

• Authors: Ian W.H. Parry, Dirk Heine, Eliza Lis, Shanjun Li
• Published: July 22, 2014
• Series: Books
• DOI: https://doi.org/10.5089/9781484388570.071

Overview

• Authors: Ian W.H. Parry, Dirk Heine, Eliza Lis, Shanjun Li
• Publication date: July 22, 2014
• Pages: 198
• ISBN: 9781484388570
• Stock No: GEPRPPEA
• DOI: https://doi.org/10.5089/9781484388570.071

Key findings

• Energy taxes can produce substantial environmental and revenue benefits and are an important component of countries’ fiscal systems.
• The principle that energy taxes should reflect global warming, air pollution, road congestion, and other adverse environmental impacts of energy use is well established.
• There has been little previous work providing guidance on how countries can put this principle into practice.
• The book develops a practical methodology, and associated tools, to show how the major environmental damages from energy can be quantified for different countries and used to design the efficient set of energy taxes.

Analytical contributions

• Practical methodology for quantifying major environmental damages from energy use on a country-by-country basis.
• Associated tools to translate quantified damages into efficient energy tax designs.

Policy implications and recommendations

• Implement energy taxes that internalize:
  • Global warming damages
  • Air pollution damages
  • Road congestion costs
  • Other adverse environmental impacts of energy use
• Use quantified, country-specific damage assessments to inform tax design that balances environmental objectives and revenue considerations.
• Treat energy taxes as a core component of fiscal systems to capture both environmental and revenue benefits.

Subject and keywords (as stated)

• Subject: Environment, Expenditure, Fuel tax, Greenhouse gas emissions, Health, Non-renewable resources, Public expenditure review, Taxes
• Keywords: Africa, BOOK, congestion cost, corrective tax, country, country-by-country damage assessments, environmental damage, environmental damage assessment, Fuel tax, Global, Non-renewable resources, North America, policy reform, Public expenditure review, tax, Western Europe

International Monetary Fund. Getting Energy Prices Right: From Principle to Practice, Ian W.H. Parry, Dirk Heine, Eliza Lis, and Shanjun Li, July 22, 2014. DOI: https://doi.org/10.5089/9781484388570.071