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Registros recuperados: 5
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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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Stranded Costs, Takings, and the Law and Economics of Implicit Contracts AgEcon
Brennan, Timothy J.; Boyd, James.
This paper explores ways in which economic analysis can help resolve the stranded cost controversy that has arisen in debates over electricity market deregulation. "Stranded costs" are costs electric utilities will not recover as power markets move from protected monopolies to an open, competitive environment. The paper begins with a description of the stranded cost problem, its magnitude, and the prominent arguments for and against recovery. We then turn to an analysis of contracts in order to understand whether there is, or should be, a legal duty to compensate utility shareholders for unrecovered costs. The paper also argues that efficient approaches to electricity deregulation will rely on more than an analysis of contracts. In particular, the politics...
Tipo: Working or Discussion Paper Palavras-chave: Stranded costs; Deregulation; Takings; Electric utilities; Contracts; Resource /Energy Economics and Policy; L43; L94; K12.
Ano: 1996 URL: http://purl.umn.edu/10688
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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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The Future(s) of Pollution Control: The Case of the Acid Rain Program AgEcon
McLemore, Donna L.; Keeler, Andrew G.; Turner, Steven C..
This study examines the potential success of the futures contract in SO2 Emissions Allowances. Factors affecting the success of the futures contract are presented including the uncertainties of air pollution and public utility regulation, emission control technology, electricity demand, and electric utility needs for an allowance price discovery mechanism for long-range compliance planning under risk. If SO2 futures market is successful, there is some potential for expanding futures trading to other pollutants. Since SO2 is uniquely suited to a national market, duplication of SO2 futures for other pollutants may be difficult.
Tipo: Journal Article Palavras-chave: Clean Air Act (CAA) Amendments of 1990; Electric utilities; Tradable permits; Emission Allowance (EA); Acid Rain Program (ARP); Futures contract; Sulfur dioxide (SO2); Agribusiness; Environmental Economics and Policy.
Ano: 1994 URL: http://purl.umn.edu/62358
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The "Regulatory Compact" and Implicit Contracts: Should Stranded Costs Be Recoverable? AgEcon
Boyd, James.
Progress toward electricity market deregulation has brought controversy over whether or not utilities are entitled to compensation for "stranded costs," i.e., costs utilities will not be able to recover due to the advent of competition in their markets. This paper uses a legal and economic analysis of contracts to address the desirability of utility cost recovery. First, underlying principles of law are reviewed to determine whether or not there is a legal presumption of recovery. Then, the analysis considers whether or not an implicit "regulatory compact" between utilities and regulators follows from principles in the economic analysis of law, particularly theories of efficient breach and implicit contracts. The paper concludes that recovery should occur...
Tipo: Working or Discussion Paper Palavras-chave: Stranded costs; Deregulation; Contracts; Electric utilities; Environmental Economics and Policy; L43; L94; K12.
Ano: 1996 URL: http://purl.umn.edu/10803
Registros recuperados: 5
Primeira ... 1 ... Última
 

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