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Effects of Taxes and Price Regulation on Offshore Gas

Henry D. Jacoby and James L. Smith

Year: 1985
Volume: Volume 6
Number: Special Issue
DOI: 10.5547/ISSN0195-6574-EJ-Vol6-NoSI-21
No Abstract



Emissions Trading in the Presence of Price-Regulated Polluting Firms: How Costly Are Free Allowances?

Bruno Lanz and Sebastian Rausch

Year: 2016
Volume: Volume 37
Number: Number 1
DOI: 10.5547/01956574.37.1.blan
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Abstract:
We study whether to auction or to freely distribute emissions allowances when some firms participating in emissions trading are subject to price regulation. We show that free allowances allocated to price-regulated firms effectively act as a subsidy to output, distort consumer choices, and generally induce higher output and emissions by price-regulated firms. This provides a cost-effectiveness argument for an auction-based allocation of allowances (or equivalently an emissions tax). For real-world economies such as the Unites States, in which about 20 percent of total carbon dioxide emissions are generated by price-regulated electricity producers, our quantitative analysis suggests that free allowances increase economy-wide welfare costs of the policy by 40-80 percent relative to an auction. Given large disparities in regional welfare impacts, we show that the inefficiencies are mainly driven by the emissions intensity of electricity producers in regions with a high degree of price regulation.



Welfare Effects of Nonlinear Electricity Pricing

Jung S. You and So Yeong Lim

Year: 2017
Volume: Volume 38
Number: Number 1
DOI: 10.5547/01956574.38.1.jyou
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Abstract:
Block pricing is widespread among electricity and water utilities to protect low-income households and to encourage energy conservation through higher marginal prices. However, whether a block pricing system achieves those objectives is controversial. In this article, we analyze the impact of alternative electricity pricing systems on the welfare of consumers for the case of residential electricity block pricing in Korea. To do this, we first develop a theoretical model to compute each household's welfare change under alternative pricing systems. Then, we estimate the residential electricity demand function and compute every household's electricity consumption and expenses under alternative pricing systems. Finally, we compute each household's welfare change and social welfare to draw policy implications. Keywords: Blocking pricing, Electricity demand estimation, Welfare change, Equivalent variation, Price regulation





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