states, are expected to have important effects on the electricity industry and on the market value of firms that own … electricity generation assets. The economics literature finds large efficiency advantages for initial distribution of tradable …

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 …

Policies to cap emissions of carbon dioxide (CO2) in the U.S. economy could pose significant costs on the electricity … electricity sector, we evaluate alternative ways that emission allowances can be allocated. Most previous emissions trading … programs have allocated the major portion of allowances for free to incumbent firms. In the electricity sector this approach …

current emitters on the basis of a historic measure of electricity generation in an approach known as grandfathering. Recent … some performance metric in a recent year (the share of electricity generation or something else) and auctioning allowances … such as electricity price, the mix of generation technologies, and the emissions of conventional pollutants inside and …

) emissions from electricity generation in the eastern U.S. Under each of 18 scenarios examined, we find an annual policy would …

generation performance standard as alternative approaches for distributing carbon emission allowances in the electricity sector …. We solve a detailed national electricity market model and find the auction is roughly one-half the societal cost of the … competition in the electricity sector. The differences in the cost of the approaches flow from the effect of each approach on …

) emissions in the U.S. electricity sector. The estimates are obtained by coupling a detailed simulation model of the U ….S. electricity markets with an integrated assessment model that links changes in emissions with atmospheric transport, environmental … current multi-pollutant debate in the U.S. Congress and the recent proposals from the Bush administration for the electricity …