There are two principal choices of the baseline from which emissions trading may take place: 1) emission reduction credits (ERCs) in which the baseline is existing regulations which are often activity-based; and 2) cap-and-trade which specified the total allowable emissions. This paper examines...

Restructuring is causing fundamental changes in the market for electricity across North America including changes in the framework for decisions about investment in generation capacity. In a restructured market the generator is no longer guaranteed a reasonable rate of return on assets; instead...

One purpose of electricity restructuring is to create a market in which prices reflect costs to which both generators and consumers may respond efficiently. Yet in many jurisdictions, spot prices may be quite volatile, and both consumers and generators of electricity have made it clear that they...