The Clean Air Act Amendments of 1990 (hereafter CAAA) have created a market-based mechanism that is designed to employ … offer some policy recommendations that will allow regulators to employ the effectiveness of market forces while they still … retain overall control of the evolution of the regulated electric supply market. …

This paper deals with the market for SO{sub 2} emission allowances over time and electric utility compliance choices … or other potential speculators in the allowance market are not expected to bank allowances. The allowances will be banked …{sub 2} allowance prices, compliance choices, capacity expansion, system dispatch, fuel use, and emissions. The revised model …

This paper deals with the effects of uncertainty and risk aversion on market outcomes for SO{sub 2} emission allowance … prices and on electric utility compliance choices. The 1990 Clean Air Act Amendments (CAAA), which are briefly reviewed here … risk neutral, or potential speculators in the allowance market, are not expected to bank allowances. The allowances will be …

This paper deals with the effects of uncertainty and risk aversion on market outcomes for SO{sub 2} emission allowance … prices and on electric utility compliance choices. The 1990 Clean Air Act Amendments (CAAA) provide about twice as many SO … utilities. Speculators are likely to be willing to set allowances in forward markets, which will lower current market prices of …

This paper deals with the effects of uncertainty and risk aversion on market outcomes for SO{sub 2} emission allowance … prices and on electric utility compliance choices. The 1990 Clean Air Act Amendments (CAAA) provide about twice as many SO … utilities. Speculators are likely to be willing to set allowances in forward markets, which will lower current market prices of …

greater compliance flexibility than EPA technology standards, State Implementation Plan (SEP) performance standards, or EPA … (PSD) requirements are met]. The added flexibility allows utilities to choose the least cost manner of compliance with …

(CAA) is of great interest due to the innovative nature of this market incentive approach. However, it may be a mistake to … frame the compliance problem for a utility as a decision to trade or not. Trading of allowances should be the consequence … allowances issued by the federal government or provided as forward market contracts in private market transactions involving non …

(CAA) is of great interest due to the innovative nature of this market incentive approach. However, it may be a mistake to … frame the compliance problem for a utility as a decision to trade or not. Trading of allowances should be the consequence … allowances issued by the federal government or provided as forward market contracts in private market transactions involving non …