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dc.contributor.authorNewbery, Daviden
dc.contributor.authorReiner, Daviden
dc.contributor.authorRitz, Roberten
dc.date.accessioned2019-01-17T00:30:24Z
dc.date.available2019-01-17T00:30:24Z
dc.date.issued2019-01en
dc.identifier.issn0195-6574
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/288090
dc.description.abstractThe EU carbon price lies well below estimates of the social cost of carbon and “target- consistent” carbon prices needed to deliver ambitious targets such as the 40% reduction target for 2030. In light of this, the UK introduced a carbon price floor (CPF) for its electricity sector in 2013 and the new Dutch Government has recently made a similar commitment, while successive French Governments have called for an EU-wide CPF. This paper analyzes the impacts and design of a power-sector CPF, both at the EU and national level, using a political-economy approach. We find a good case for introducing such a price-based instrument into the EU ETS. We suggest that a CPF should be designed to “top up” the EUA price to €25–30/tCO2, rising annually at 3–5% above inflation, at least until 2030. We argue that the new EU Market Stability Reserve enhances the value of a CPF in terms of delivering climate benefits, and discuss the potential for a regional CPF in North-West Europe. We also review international policy experience with price floors (and ceilings).
dc.description.sponsorshipIberdrola
dc.publisherInternational Association for Energy Economics
dc.titleThe political economy of a carbon price floor for power generationen
dc.typeArticle
prism.issueIdentifier1en
prism.publicationDate2019en
prism.publicationNameEnergy Journalen
prism.volume40en
dc.identifier.doi10.17863/CAM.35405
dcterms.dateAccepted2018-11-03en
rioxxterms.versionofrecord10.5547/01956574.40.1.dnewen
rioxxterms.versionAM
rioxxterms.licenseref.urihttp://www.rioxx.net/licenses/all-rights-reserveden
rioxxterms.licenseref.startdate2019-01en
dc.contributor.orcidReiner, David [0000-0003-2004-8696]
dc.identifier.eissn1944-9089
rioxxterms.typeJournal Article/Reviewen
cam.issuedOnline2019-01-01en
cam.orpheus.successThu Jan 30 10:53:05 GMT 2020 - Embargo updated*
rioxxterms.freetoread.startdate2022-01-01


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