The role of the EPA auctions in the SO{sub 2} allowance market: What the first two auctions revealed
Conference
·
OSTI ID:271826
- Environmental Protection Agency, Washington, DC (United States)
Title IV of the Clean Air Act Amendments of 1990 created a market-based trading program to reduce sulfur dioxide emissions from electric power plants. In order to stimulate and support this new market, the Act provided for the annual auction of a small portion of the total emission allowances allocated to utilities each year. This paper discusses how the first EPA auctions in 1993 played a large role in creating market value for allowances while the second more accurately reflected market demand. Also addressed is how the market has responded to the design of the auctions and the government rules associated with these auctions. In addition, the paper mentions the role of the Chicago Board of Trade in administering and establishing a market for the EPA auctions and what the future of the EPA auctions may be.
- OSTI ID:
- 271826
- Report Number(s):
- CONF-950196--
- Country of Publication:
- United States
- Language:
- English
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