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Registros recuperados: 40
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The Environmental Impacts of Electricity Restructuring: Looking Back and Looking Forward AgEcon
Palmer, Karen L.; Burtraw, Dallas.
In the mid-1990s, when the Federal Energy Regulatory Commission was preparing to release Order 888 requiring open access to the transmission grid, the commission, environmental groups, and the Environmental Protection Agency, among others, raised the question of how open access and greater competition in wholesale electricity markets might affect the environment. If open access worked as expected, underutilized older coal-fired generators in the Midwest and elsewhere might find new markets for their power, leading to associated increases in air pollution emissions. Restructuring also might lead to retirements of inefficient nuclear facilities, whose generation would be replaced by fossil generation, further increasing emissions. On the other hand, some...
Tipo: Working or Discussion Paper Palavras-chave: Electricity; Electric utilities; Regulation; Competition; Environment; Air pollution; Natural gas; Coal; Nuclear; Renewables; Customer choice; Resource /Energy Economics and Policy; L51; L94; L98.
Ano: 2005 URL: http://purl.umn.edu/10656
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CO2 Allowance Allocation in the Regional Greenhouse Gas Initiative and the Effect on Electricity Investors AgEcon
Burtraw, Dallas; Kahn, Danny; Palmer, Karen L..
The Regional Greenhouse Gas Initiative (RGGI) is an effort by nine Northeast and Mid-Atlantic states to develop a regional, mandatory, market-based cap-and-trade program to reduce greenhouse gas (GHG) emissions from the electricity sector. The initiative is expected to lead to an increase in the price of electricity in the RGGI region and beyond. The implications of these changes for the value of electricity-generating assets and the market value of the firms that own them depends on the initial allocation of carbon dioxide allowances, the composition of generating assets owned by the firm, and the locations of those assets. Changes in asset values inside the RGGI region may be positive or negative, whereas changes outside of the RGGI region are almost...
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Allowance allocations; Electricity; Air pollution; Auction; Grandfathering; Generation-performance standard; Output-based allocation; Cost-effectiveness; Greenhouse gases; Climate change; Global warming; Carbon dioxide; Asset value; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2005 URL: http://purl.umn.edu/10495
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The Effect on Asset Values of the Allocation of Carbon Dioxide Emission Allowances AgEcon
Burtraw, Dallas; Palmer, Karen L.; Bharvirkar, Ranjit; Paul, Anthony.
Paradoxically, owners of existing generation assets may be better off paying for carbon dioxide emission allowances than having them distributed for free. This analysis shows that it takes just 7.5% of the revenue raised under an auction to preserve the asset values of existing generators.
Tipo: Working or Discussion Paper Palavras-chave: Carbon dioxide; Emission allowance trading; Allocation; Electricity; Restructuring; Air pollution; Auction; Grandfathering; Generation performance standard; Outputbased allocation; Cost-effectiveness; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2002 URL: http://purl.umn.edu/10705
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"Vertical Market Power" as Oxymoron: Getting Convergence Mergers Right AgEcon
Brennan, Timothy J..
"Vertical market power" is a contradiction in terms because "market power" is essentially horizontal-that is, it depends on relationships of firms within markets. FERC invokes the term to assess "convergence" mergers between electricity generators and natural gas suppliers. It misapplies Department of Justice guidelines for vertical mergers and fails to identify exceptions to a presumption that market power depends only on competitive conditions at any single stage. A three-stage test can assess whether convergence mergers resemble horizontal ones. The key stage is the third: A convergence merger is more problematic the less vertical it is-that is, if the acquiring generator had no prior dealings with the acquired gas supplier. FERC's analyses in leading...
Tipo: Working or Discussion Paper Palavras-chave: Vertical mergers; Electricity restructuring; Vertical integration; Convergence; Energy regulation; Resource /Energy Economics and Policy; L40; L94; L22; D43.
Ano: 2001 URL: http://purl.umn.edu/10871
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Electricity Restructuring and Regional Air Pollution AgEcon
Palmer, Karen L.; Burtraw, Dallas.
This paper investigates the regional air pollution effects that could result from new opportunities for inter-regional power transmission in the wake of more competitive electricity markets. The regional focus is important because of great regional variation in the vintage, efficiency and plant utilization rates of existing generating capacity, as well as differences in emission rates, cost of generation and electricity price. Increased competition in generation could open the door to changes in the regional profile of generation and emissions. We characterize the key determinant of changes in electricity generation and transmission as the relative cost of electricity among neighboring regions. In general, low cost regions are expected to export power...
Tipo: Working or Discussion Paper Palavras-chave: Air pollution; Electricity restructuring; Transmission; Environmental Economics and Policy; L94; Q25; Q28.
Ano: 1996 URL: http://purl.umn.edu/10766
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Consumer Preference Not to Choose: Methodological and Policy Implications AgEcon
Brennan, Timothy J..
Residential consumers remain reluctant to choose new electricity suppliers. Even the most successful jurisdictions, four U.S. states and other countries, have had to adopt extensive consumer education procedures that serve largely to confirm that choosing electricity suppliers is daunting. Electricity is not unique in this respect; numerous studies find that consumers are generally reluctant to switch brands, even when they are well-informed about product characteristics. If consumers prefer not to choose, opening regulated markets can reduce welfare, even for some consumers who do switch, as the incumbent can exploit this preference by raising price above the formerly regulated level. Policies to open markets might be successful even if limited to...
Tipo: Working or Discussion Paper Palavras-chave: Electricity markets; Deregulation; Consumer choice; Residential markets; Consumer/Household Economics; L94; L51; D11; B40.
Ano: 2005 URL: http://purl.umn.edu/10573
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Implementing Electricity Restructuring: Policies, Potholes, and Prospects AgEcon
Brennan, Timothy J.; Palmer, Karen L.; Martinez, Salvador A..
Electricity is one of the last U.S. industries in which competition is replacing regulation. We briefly review the technology for producing and delivering power, the history of electricity policy, and recent state and international experience. We then outline the major questions facing policymakers as they decide whether, when, and how to implement restructuring. We conclude with some thoughts on the California electricity crisis and other political controversies. Although the California experience has come to define what it means for electricity markets to fail, most of the problems it raised are among those we know how to solve or prevent. The still unresolved make-or-break issue remains whether the cooperation necessary to maintain reliability is...
Tipo: Working or Discussion Paper Palavras-chave: Electricity restructuring; Regulation; Deregulation; Public Economics; L51; L94; D4.
Ano: 2001 URL: http://purl.umn.edu/10508
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China’s Electricity Market Reform and Power Plants Efficiency AgEcon
Ma, Chunbo; Zhao, Xiaoli; Ma, Qian; Zhao, Yue.
In the past three decades, Chinese electricity industry has experienced a series of regulatory reforms serving different purposes at different stages. In 2002, the former vertically integrated electricity utility - the State Power Corporation (SPC) – was divested and the generation sector was separated from the transmission and distribution networks in an effort to improve production efficiency. In this paper we study the impact of the reform on efficiency of fossil-fired power plants using plant-level data during 2000-2008. Our results from the data envelopment analysis (DEA) and panel regressions show that: 1) the total factor productivity (TFP) growth mainly comes from technological change; 2) the technical efficiency of previously SPC-managed power...
Tipo: Working or Discussion Paper Palavras-chave: Efficiency; DEA; Malmquist Index; China; Electricity; Industrial Organization; Productivity Analysis; Resource /Energy Economics and Policy; D24; L11; L51; L94; L98.
Ano: 2011 URL: http://purl.umn.edu/117811
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Allocation of CO2 Emissions Allowances in the Regional Greenhouse Gas Cap-and-Trade Program AgEcon
Burtraw, Dallas; Palmer, Karen L.; Kahn, Danny.
Cap-and-trade programs for air emissions have become the widely accepted, preferred approach to cost-effective pollution reduction. One of the important design questions in a trading program is how to initially distribute the emissions allowances. Under the Acid Rain program created by Title IV of the Clean Air Act, most emissions allowances were distributed to current emitters on the basis of a historic measure of electricity generation in an approach known as grandfathering. Recent proposals have suggested two alternative approaches: allocation according to a formula that is updated over time according to some performance metric in a recent year (the share of electricity generation or something else) and auctioning allowances to the highest bidders....
Tipo: Working or Discussion Paper Palavras-chave: Emissions trading; Allowance allocations; Electricity; Air pollution; Auction; Grandfathering; Generation performance standard; Output-based allocation; Cost-effectiveness; Greenhouse gases; Climate change; Global warming; Carbon dioxide; Sulfur dioxide; Nitrogen oxides; Mercury; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2005 URL: http://purl.umn.edu/10650
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Multi-Period Emissions Trading in the Electricity Sector - Winners and Losers AgEcon
Bode, Sven.
Emission trading has become recently more and more import in environmental regulation. In the context of controlling greenhouse gas emissions, the directive on a Europewide trading scheme for large immobile sources may be perceived as one of the most important milestones in recent years. Prior to its start, however, a number of very specific design features have to be agreed upon. In the political discussion, the question of how to allocate emission rights is considered as one of the most important issues. So far, a distribution (almost) free of charge is the option of choice. An aspect that has interestingly attracted little attention in the past is the question of how to allocate emission rights over time. This may for example be done on the basis of a...
Tipo: Working or Discussion Paper Palavras-chave: Abatement costs; Allocation of GHG allowances; Benchmark; Compliance costs; Electricity sector; Multi-period emission trading; Environmental Economics and Policy; H23; H25; L20; L52; L94; Q25; Q28.
Ano: 2004 URL: http://purl.umn.edu/26314
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Promotion of renewable sources of energy from rural areas AgEcon
Bojnec, Stefan; Papler, Drago.
This paper investigates the question of promotion of more efficient use of energy and for an increase in supply and use of energy from the renewable sources of energy in rural areas. The empirical research is based on the analysis of the survey evidence that is obtained by the written questionnaire. The 516 in-depth surveys were conducted among the scholars, students, and employees from social sciences, natural sciences, electrical energy supply, and energy management in the six different towns in Slovenia. The surveys data are analysed by using descriptive statistics, comparisons of average values, correlation, and multivariate factor analysis. The needs for more efficient energy use between different users and the significance of production of renewable...
Tipo: Conference Paper or Presentation Palavras-chave: Renewable sources of energy; Rural development; Promotion; Slovenia; Community/Rural/Urban Development; L94; O13; Q42; M39.
Ano: 2010 URL: http://purl.umn.edu/95307
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Nodal Pricing and Transmission Losses: An Application to a Hydroelectric Power System AgEcon
Bernard, Jean-Thomas; Guertin, Chantal.
Since January 1, 1997, the wholesale electricity market in the United States has been open to competition. To satisfy the reciprocity requirements imposed by the Federal Energy Regulatory Commission, Hydro-Quebec, a Canadian utility, made its transmission grid accessible to third parties. Under the current regulation, transmission losses are taken into account through a single, constant rate; location and time of use play no role. Hydro-Quebec generates most of its electricity from hydro resources. Long high-voltage power lines link production in the North to consumption centers in the South, where there are interconnections with neighboring areas. We develop an optimization model that allows us to calculate nodal prices on the basis of the opportunity...
Tipo: Working or Discussion Paper Palavras-chave: Electricity; Transmission pricing; Hydropower; Resource /Energy Economics and Policy; L94.
Ano: 2002 URL: http://purl.umn.edu/10724
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Fiscal Interactions and the Costs of Controlling Pollution from Electricity AgEcon
Parry, Ian W.H..
This paper quantifies the costs of controlling SO2, carbon, and NOx emissions from power generation, accounting for interactions between environmental policies and the broader fiscal system. We distinguish a dirty technology (coal) that satisfies baseload demand and a clean technology (gas) that is used during peak periods, and we distinguish sectors with and without regulated prices. Estimated emissions control costs are substantially lower than in previous models of fiscal interactions that assume a single, constant returns technology and competitive pricing. The results are reasonably robust to alternative scenarios, such as full price deregulation and market power in the deregulated sector.
Tipo: Working or Discussion Paper Palavras-chave: Electricity generation; Pollution control; Fiscal interventions; Price regulation; Multiple technology; Environmental Economics and Policy; Q28; H21; H23; L94.
Ano: 2004 URL: http://purl.umn.edu/10785
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The Ten-Year Rule: Allocation of Emission Allowances in the EU Emission Trading System AgEcon
Ahman, Markus; Burtraw, Dallas; Kruger, Joseph; Zetterberg, Lars.
In its guidance on National Allocation Plans (NAPs), the European Commission has discouraged Member States from adopting allocation methodologies that would provide incentives to firms affecting their compliance behavior. The purpose is to promote economic efficiency and to prevent strategic behavior that deviates from individual and collective cost-minimization. For example, some methodologies would reward one type of compliance investment over another. To discourage such actions, the EU Emission Trading System guidelines prohibit ex post redistribution of emission allowances within an allocation period based on behavior in that period. Similarly, the Commission has indicated that decisions about the initial distribution of allowances in the second phase...
Tipo: Working or Discussion Paper Palavras-chave: Emission trading; Allowance allocations; Closures; New entrants; Tradable permits; Air pollution; Cost-effectiveness; Greenhouse gases; Climate change; Global warming; Carbon dioxide; Environmental Economics and Policy; Q2; Q25; Q4; L94.
Ano: 2005 URL: http://purl.umn.edu/10637
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An Assessment of the EPA's SO2 Emission Allowance Tracking System AgEcon
Lile, Ronald D.; Bohi, Douglas R.; Burtraw, Dallas.
On November 8, 1996, various Environmental Protection Agency (EPA) officials, scholars and industry representatives gathered at Resources for the Future (RFF) to examine the EPA's method for classifying private SO2 allowance transactions by the Allowance Tracking System (ATS). The one-day workshop at RFF was designed to evaluate how well the EPA's classification scheme within the ATS currently meets the needs of constituencies with a vested interest in the allowance trading system, and to determine if other classifications would be more beneficial. The EPA has limited its collection of information to that which is necessary to ensure compliance with environmental goals. In particular, the EPA has interpreted its mission to be one of minimal interference in...
Tipo: Working or Discussion Paper Palavras-chave: Transaction costs; Regulated industries; Electric utilities; Emissions; Environmental Economics and Policy; D23; D49; H70; K23; L94; Q25.
Ano: 1996 URL: http://purl.umn.edu/10890
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Electricity Restructuring: Consequences and Opportunities for the Environment AgEcon
Burtraw, Dallas; Palmer, Karen L.; Heintzelman, Martin.
The universal theme of deregulation of the electricity industry is the dismantling of the exclusive franchise, opening up some segments of the industry to competition. Technological changes in generation have helped eliminate the perception that generation is a natural monopoly, but this change has not occurred in transmission and distribution services. Marketing functions have also been opened up to competition in many places. This paper includes a brief overview of the different approaches to restructuring that have been adopted in selected countries around the world. It also surveys the existing literature that explores various aspects of how electricity restructuring is likely to affect the environment. The effect of restructuring on the environment...
Tipo: Working or Discussion Paper Palavras-chave: Electricity restructuring; Air quality; Incentive-based regulation; Technological change; Environmental Economics and Policy; Q28; L51; L94.
Ano: 2000 URL: http://purl.umn.edu/10854
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A Robust Multivariate Long Run Analysis of European Electricity Prices AgEcon
Bosco, Bruno; Parisio, Lucia; Pelagatti, Matteo; Baldi, Fabio.
This paper analyses the interdependencies existing in wholesale European electricity prices. The results of a multivariate long run dynamic analysis of weekly median prices reveal the presence of a strong although not perfect integration among some neighboring markets considered in the sample and the existence of common long-term dynamics of electricity prices and gas prices but not oil prices. The existence of long-term dynamics among gas prices and electricity prices may prove to be important for long-term hedging operations to be conducted even in markets where there are no electricity derivatives.
Tipo: Working or Discussion Paper Palavras-chave: European Electricity Prices; Cointegration; Interdependencies; Equilibrium Correction Model; Oil Prices; Resource /Energy Economics and Policy; C15; C32; D44; L94; Q40.
Ano: 2007 URL: http://purl.umn.edu/7438
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The Social Costs of Electricity: Do the Numbers Add Up? AgEcon
Krupnick, Alan J.; Burtraw, Dallas.
Several recent studies have mounted major efforts to estimate the social cost of electricity generation. This paper provides an overview of this literature and a focused qualitative and quantitative comparison of the most comprehensive and rigorous of these studies. The paper also provides a synthesis that can help reduce the cost of future applications of these methods.
Tipo: Working or Discussion Paper Palavras-chave: Electricity; Environment; Health; Social costs; Adders; Externalities; Resource /Energy Economics and Policy; H23; L94; L98.
Ano: 1996 URL: http://purl.umn.edu/10856
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State and Federal Roles in Facilitating Electricity Competition: Legal and Economic Perspectives AgEcon
Brennan, Timothy J..
Jurisdictions have overlapping authority regarding electricity restructuring when a national authority and subnational regional governments-for example, states-both have a say. The initial sections of the paper review the division of regulatory authority over electricity markets in the United States, constitutional provisions, recent developments, and how federalist concerns have been manifested in antitrust and telecommunications. Justifications for using private markets rather than central governments suggest an efficiency approach to dividing authority, based on information, cross-border externalities, and agency, that is, the ability of a government to reflect the political preferences of its constituents. The goal is not to impose a "right" policy...
Tipo: Working or Discussion Paper Palavras-chave: Electricity restructuring; Federalism; Regulatory policy; Political Economy; H11; L94; L51; H77.
Ano: 2003 URL: http://purl.umn.edu/10802
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Market Failures in Real-Time Metering: A Theoretical Look AgEcon
Brennan, Timothy J..
Restructuring the electricity market may secure efficiencies by moving away from cost-of-service regulation, with typically (but not necessarily) time-invariant prices, and allowing prices to reflect how costs change. Charging "real time" prices requires that electricity use be measured according to when one uses it. Arguments that such real-time metering should be a policy objective promoted by subsidizing meters or delaying restructuring until meters are installed, require more than these potential benefits. They require positive externalities to imply that too few meters would be installed through private transactions. Real-time metering presents no systematic externalities when utilities must serve peak period users, and may present negative...
Tipo: Working or Discussion Paper Palavras-chave: Real-time metering; Electricity restructuring; Deregulation; Rationing; Externalities; Industrial Organization; D45; D62; L11; L94.
Ano: 2002 URL: http://purl.umn.edu/10718
Registros recuperados: 40
Primeira ... 12 ... Última
 

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