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 … emissions allowances through an auction so as to direct revenues to tax relief or other public investments. However, an auction …

. We solve a detailed national electricity market model and find the auction is roughly one-half the societal cost of the … performance standard yields the lowest electricity price but highest natural gas price. The auction does better than the …We investigate the cost-effectiveness and distributional effects of a revenue-raising auction, grandfathering, and a …

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 … outside the region, commonly called emissions leakage. In this research we model historic, auction, and updating approaches to …

than having them distributed for free. This analysis shows that it takes just 7.5% of the revenue raised under an auction …

. While the auction is the most powerful policy to reduce emissions in the electricity sector, giving away permits to all … Korean electricity market. This study employs the mixed complementarity problem, which is able to incorporate operation …, investment, and emission trade decisions in the deregulated electricity market in order to provide more realistic results. In …

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 …

A question in the design of carbon dioxide trading systems is how allowances are to be initially allocated: by auction … are somewhat mitigated if there are also electricity capacity markets or minimum-run restrictions on coal plants. …