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The temporal efficiency of SO₂ emissions trading
(MIT Center for Energy and Environmental Policy Research, 2002)
This paper provides an empirical evaluation of the temporal efficiency of the U.S. Acid Rain Program, which implemented a nationwide market for trading and banking sulfur dioxide (SO2) emission allowances. We first develop ...
Designing a US Market for CO2
(2009)
In this paper we focus on one component of the cap-and-trade system: the markets that arise for trading allowances after they have been allocated or auctioned. The efficient functioning of the market is key to the success ...
Lessons from Phase 2 compliance with the U.S. Acid Rain Program
(MIT Center for Energy and Environmental Policy Research, 2003)
This paper provides preliminary answers to four questions concerning the behavior of agents operating under the SO2 Allowance Trading Program that could not be adequately answered until several years' data on compliance ...
The sources of emission reductions : evidence from U.S. SO₂ emissions from 1985-2002
(MIT Center for Energy and Environmental Policy Research, 2004)
An enduring issue in environmental regulation is whether to clean up existing "old" plants or in some manner to bring in new ₃clean₄ plants to replace the old. In this paper, a unit-level data base of emissions by nearly ...
The allocation of European Union allowances : lessons, unifying themes and general principles
(MIT Center for Energy and Environmental Policy Research, 2006)
On January 1st, 2005, the EU Emissions Trading Scheme (EU ETS) scheme was officially launched, only two years after the European Council adopted the EU Emissions Trading Directive (European Community 2003). As a consequence ...
Over-allocation or abatement? : a preliminary analysis of the EU ETS based on the 2005 emission data
(MIT Center for Energy and Environmental Policy Research, 2006)
This paper provides an initial analysis of the EU ETS based on the installation-level data for verified emissions and allowance allocations in the first trading year. Those data, released on May 15, 2006, and subsequent ...
Time and location differentiated NOX control in competitive electricity markets using cap-and-trade mechanisms
(MIT Center for Energy and Environmental Policy Research, 2007)
Due to variations in weather and atmospheric chemistry, the timing and location of nitrogen oxide (NOX) reductions determine their effectiveness in reducing ground-level ozone, which adversely impacts human health. Electric ...
Electric utility response to allowances : from autarkic to market-based compliance
(MIT Center for Energy and Environmental Policy Research, 1998)
Natural gas pricing in the Northeastern U.S.
(MIT Center for Energy and Environmental Policy Research, 1998)
This paper examines natural gas pricing at five citygate locations in the northeastern United States using daily and weekly price series for the years 1994-97. In particular, the effects of the natural gas price at Henry ...
Short-term CO₂ abatement in the European power sector
(MIT Center for Energy and Environmental Policy Research, 2008)
This paper focuses on the possibilities for short term abatement in response to a CO2 price through fuel switching in the European power sector. The model E-Simulate is used to simulate the electricity generation in Europe ...