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Allowance Allocation Alternatives. Dallas Burtraw Resources for the Future February 28, 2005 Sustainable Energy Roundtable: “Multi-Pollutant Legislation”. Three Generic Approaches. Three Generic Approaches. Three Generic Approaches. Important Subtleties. Important Subtleties.

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allowance allocation alternatives
Allowance Allocation Alternatives

Dallas Burtraw

Resources for the Future

February 28, 2005

Sustainable Energy Roundtable:“Multi-Pollutant Legislation”

important subtleties2
Important Subtleties
  • Common formula across fuels, sources?
decision research criteria
Decision / Research Criteria
  • Efficiency
    • Auction always best.
    • Second-best (historic) depends on regulation in electricity sector.
    • However, with ‘3P’s the distinction is not great.
    • Importance is as precedent for CO2where social cost can be cut in half or more with auction.
decision research criteria1
Decision / Research Criteria
  • Compensation
    • Producers vs. Consumers.
    • Different producer interests
      • Existing coal
      • Gas, new sources.
    • Principles:
      • Political compromise.
      • Time is compensation.
      • Possibility for over-compensation (not likely for ‘3P’).
preferred method of allocation
Preferred Method of Allocation
  • In competitive regions the auction does relatively better. This is due to the resource mix.
  • A move to competition makes historic more profitable for emitters.
decision research criteria2
Decision / Research Criteria
  • Incentives for Technical Change
    • Motivation supports updating & auction.
    • We’ve looked at insufficiently.
    • Auction could be most potent – Depends what is done with auction revenues.
for more information
For More Information

www.rff.org/multipollutant

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