We develop a stochastic model to rank different policies (tax, fixed cap and relative cap) according to their expected total social costs. Three types of uncertainties are taken into account: uncertainty about abatement costs, business-as-usual (BAU) emissions and future economic output (the two...

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...

We develop a stochastic model to rank different policies (tax, fixed cap and relative cap) according to their expected total social costs. Three types of uncertainties are taken into account: uncertainty about abatement costs, business-as-usual (BAU) emissions and future economic output (the two...

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...

Shale gas proponents argue this unconventional fossil fuel offers a “bridge” towards a cleaner energy system by offsetting higher-carbon fuels such as coal. The technical feasibility of reconciling shale gas development with climate action remains contested. However, we here argue that...