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Allowance trading activity and state regulatory rulings : evidence from the U.S. Acid Rain Program

Research and Teaching Output of the MIT Community

Show simple item record Bailey, Elizabeth M. en_US
dc.contributor.other Massachusetts Institute of Technology. Center for Energy and Environmental Policy Research. en_US 2009-04-03T17:08:06Z 2009-04-03T17:08:06Z 1998 en_US
dc.identifier 98005 en_US
dc.description.abstract The U.S. Acid Rain Program is one of the first, and by far the most extensive, applications of a market based approach to pollution control. From the beginning, there has been concern whether utilities would participate in allowance trading, and whether regulatory activity at the state level would further complicate utilities' decision to trade allowances. This paper finds that public utility commission regulation has encouraged allowance trading activity in states with regulatory rulings, but that allowance trading activity has not been limited to states issuing regulations. Until there is evidence suggesting that significant additional cost savings could have been obtained if additional allowance trading activity had occurred in states without regulations or that utilities in states with regulations are still not taking advantage of all cost saving trading opportunities, this analysis suggests that there is little reason to believe that allowance trading activity is impeded by public utility commission regulations. en_US
dc.format.extent 38 p en_US
dc.publisher MIT Center for Energy and Environmental Policy Research en_US
dc.relation.ispartofseries MIT-CEEPR (Series) ; 98-005WP. en_US
dc.title Allowance trading activity and state regulatory rulings : evidence from the U.S. Acid Rain Program en_US
dc.type Working Paper en_US
dc.identifier.oclc 39305344 en_US

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