Environmental Policies in the Power Sector

Yihsu Chen (), Afzal S. Siddiqui and Makoto Tanaka
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Yihsu Chen: University of California, Santa Cruz
Afzal S. Siddiqui: University College London

Chapter Chapter 2 in Analysis of Environmental Policy in the Power Sector, 2020, pp 13-24 from Springer

Abstract: Abstract Due to its emitting a significant amount of air pollution emissions relative to the rest of the economy, the power sector in most countries is subject to various forms of regulation in order to reduce or to limit its pollution. The regulation evolves from traditional command-and-control policiesRegulationcommand-and-control such as technology or performance standards based on engineering solutions or best-available technologies earlier to more recent implementations of market-based instruments, including emission taxMarket-based instrumentPigouvian tax and cap-and-trade programsMarket-based instrumentcap-and-trade mechanism. Compared to technology or performance standards, market-based instruments are aligned with firms’ profit-maximization principles in a deregulated market place while facilitating the minimization of the system’s pollution-abatement cost through proper pricing of the pollution externality. This chapter reviews various forms of regulation, discusses regional experiences, and highlights the challenges going forward.

Date: 2020
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DOI: 10.1007/978-3-030-44866-0_2

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