By Joseph Kruger (auth.), Ralf Antes, Bernd Hansjürgens, Peter Letmathe (eds.)

ISBN-10: 0387736522

ISBN-13: 9780387736525

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Extra info for Emissions Trading: Institutional Design, Decision Making and Corporate Strategies

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G. Buchanan and Tullock 1975). Existing companies can gain a competitive advantage, for example, when permits are grandfathered to them, whereas new entrants are obliged to buy their permits on the market. Hypothesis 4: Industry as well as bureaucracy strive for complex legislation offering flexibility or freedom for negotiations between companies and bureaucrats. While bureaucracy appreciates the leeway to follow its own interests, industry seeks regulation regarding their own special interests (Cansier 1998).

For instance, it would be feasible to allow power stations to emit 580g of CO2 per kWh, which corresponds to the average emissions of German power plants in 2002. Obviously, only those power suppliers running installations with low emissions would be in favour of such an allocation mechanism. Fuel-specific benchmarks within the energy industry would reflect that a gas-fired station emits less than a coal-fired station. They would provide no incentives for investing in gas-fired stations but support efficient installations within the respective fuel category.

Approximately 80% of all transfers of allowances are now done 7 To a certain extent, the use of continuous emissions monitors (CEMs) in the US trading system has required this more prescriptive approach. However, although 96% of emissions in the US SO2 program are monitored with CEMs, only 36% of units are required to use CEMs. Gas-fired units, for example, are allowed to use alternative methods. , there are 30 pages of regulations for a method that allows gas-fired units to use fuel meters and emissions factors).

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Emissions Trading: Institutional Design, Decision Making and Corporate Strategies by Joseph Kruger (auth.), Ralf Antes, Bernd Hansjürgens, Peter Letmathe (eds.)


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