Relation between energy needs and environment protection today represents an obstacle, but tomorrow it will become motor of a new economy. Emission Trading System (ETS) is closely connected to energy sector because of the fact that most of emissions are coming from energy conversion from...

The paper examines the economic and regulatory factors that led to an explosion in wholesale power prices, supply shortages, and utility insolvencies in California's electricity sector from May 2000 to June 2001. The structure of California's restructured electricity sector and its early...