KETEP 세계에너지시장정보

1.  Introduction 1

2.  Regulatory Background: Environmental Justice in Washington’s Cap-and-Invest Program 2
 2.1.  Community Engagement in Decisionmaking and Implementation 3
 2.2.  Selection of Overburdened Communities Highly Impacted by Air Pollution 4
 2.3.  Air Quality Improvement Requirements 5
  2.3.1.  Sources of Air Pollution in Washington 5
 2.4.  Washington Cap-and-Invest Revenue Allocation 7
 2.5.  Lessons from Linked Carbon Markets 9
  2.5.1.  California-Québec 10
  2.5.2.  European Union Emissions Trading System 10
  2.5.3.  Regional Greenhouse Gas Initiative (RGGI) 12
 2.6.  Novel Considerations for Washington-California Linkage 13
 
3.  Modeling the Market Effects of Linkage 15
 3.1.  Allowance Prices 17
 3.2.  Emissions 19
 3.3.  Revenues 20
 3.4.  Price Ceiling Effects 22
 3.5.  Electricity Prices 23
 
4.  Market Design Considerations for Linkage 24
 4.1.  Emissions Containment Reserve 26
 4.2.  Facility-Specific Emissions Caps 30
 4.3.  Use of Banked Allowances 33
 4.4.  Alignment of Offsets 34
 
5.  Conclusion 34
 
References 36
 
Appendix: Haiku Model Functionality and Calibration for Washington State 38