To mitigate or not to mitigate: Regulatory treatment of emissions trading and its effect on marketplace incentives

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The Clean Air Act Amendments of 1990 (hereafter CAAA) have created a market-based mechanism that is designed to employ a profit-oriented incentive to enable electric utilities to reduce SO{sub 2} emissions at the least cost. One of the most important challenges facing state regulatory utility commissions in the next decade is the integration of this marker-based profit-incentive process into the traditional rate-base, rate-of-return, profit-control approach to regulation. How the struggle to meld two potentially contradictory control and incentive programs will be resolved remains to be seen. As of now, it is an open question. The purpose of this paper is ... continued below

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Pages: (16 p)

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McDermott, K.A. (Illinois State Univ., Normal, IL (United States). Center for Regulatory Studies) & South, D.W. (Argonne National Lab., IL (United States)) January 1, 1991.

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Description

The Clean Air Act Amendments of 1990 (hereafter CAAA) have created a market-based mechanism that is designed to employ a profit-oriented incentive to enable electric utilities to reduce SO{sub 2} emissions at the least cost. One of the most important challenges facing state regulatory utility commissions in the next decade is the integration of this marker-based profit-incentive process into the traditional rate-base, rate-of-return, profit-control approach to regulation. How the struggle to meld two potentially contradictory control and incentive programs will be resolved remains to be seen. As of now, it is an open question. The purpose of this paper is to help clarify some of the issues that need to be addressed and to 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.

Physical Description

Pages: (16 p)

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OSTI; NTIS; INIS; GPO Dep.

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  • 84. annual meeting and exhibition of the Air and Waste Management Association (AWMA), Vancouver (Canada), 16-21 Jun 1991

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  • Other: DE92009708
  • Report No.: ANL/CP-72022
  • Report No.: CONF-910659--35
  • Grant Number: W-31109-ENG-38
  • Office of Scientific & Technical Information Report Number: 5665604
  • Archival Resource Key: ark:/67531/metadc1093200

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  • January 1, 1991

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  • Feb. 10, 2018, 10:06 p.m.

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  • April 17, 2018, 3:42 p.m.

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McDermott, K.A. (Illinois State Univ., Normal, IL (United States). Center for Regulatory Studies) & South, D.W. (Argonne National Lab., IL (United States)). To mitigate or not to mitigate: Regulatory treatment of emissions trading and its effect on marketplace incentives, article, January 1, 1991; Illinois. (digital.library.unt.edu/ark:/67531/metadc1093200/: accessed November 16, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.