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Uncertainty and the Cost-Effectiveness of Regional NOx Emissions Reductions from Electricity Generation

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Author Info
Burtraw, Dallas () (Resources for the Future)
Bharvirkar, Ranjit
McGuinness, Meghan

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Abstract

This paper analyzes uncertainties surrounding the benefits and costs of a policy to reduce nitrogen oxides (NOX) emissions from electricity generation in the eastern U.S. Under each of 18 scenarios examined, we find an annual policy would yield net benefits that are at least as great as those expected under the U.S. Environmental Protection Agency’s (EPA) currently planned seasonal policy. Preferred (midpoint) assumptions yield additional benefits of $724 million per year under an annual policy compared to a seasonal one (1997 dollars). The subset of 11 northeastern states benefit the most from an annual policy relative to a seasonal one, but relative net benefits are also positive in the remaining states in the region. An annual policy implemented on a national basis appears to be slightly less cost-effective than the EPA’s policy under midpoint assumptions but it is more cost-effective under half of the scenarios we examine.

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Paper provided by Resources For the Future in its series Discussion Papers with number dp-02-01-.

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Date of creation: 01 Jan 2002
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Handle: RePEc:rff:dpaper:dp-02-01-

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Related research
Keywords: emissions trading; electricity; particulates; nitrogen oxides; NOX; health benefits; market structure; restructuring; deregulation; value of statistical life; uncertainty;

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Find related papers by JEL classification:
Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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  2. Burtraw, Dallas & Krupnick, Alan, 1996. "The Social Cost of Electricity: Do the Numbers Add Up?," Discussion Papers dp-96-30, Resources For the Future. [Downloadable!]
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  3. Lee, Henry & Darani, Negeen, 1996. "Electricity restructuring and the environment," The Electricity Journal, Elsevier, vol. 9(10), pages 10-15, December. [Downloadable!] (restricted)
  4. Banzhaf, H. Spencer & Desvousges, William H. & Johnson, F. Reed, 1996. "Assessing the externalities of electricity generation in the Midwest," Resource and Energy Economics, Elsevier, vol. 18(4), pages 395-421, December. [Downloadable!] (restricted)
  5. Smith, V Kerry & Desvousges, William H, 1987. "An Empirical Analysis of the Economic Value of Risk Changes," Journal of Political Economy, University of Chicago Press, vol. 95(1), pages 89-114, February. [Downloadable!] (restricted)
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  7. Jones-Lee, M W & Hammerton, M & Philips, P R, 1985. "The Value of Safety: Results of a National Sample Survey," Economic Journal, Royal Economic Society, vol. 95(377), pages 49-72, March. [Downloadable!] (restricted)
  8. Leigh J. Paul, 1995. "Compensating Wages, Value of a Statistical Life, and Inter-industry Differentials," Journal of Environmental Economics and Management, Elsevier, vol. 28(1), pages 83-97, January. [Downloadable!] (restricted)
  9. Krupnick, Alan & Cropper, Maureen & Alberini, Anna & Heintzelman, Martin & Simon, Nathalie & O'Brien, Bernie & Goeree, Ron, 2000. "Age, Health, and the Willingness to Pay for Mortality Risk Reductions: A Contingent Valuation Survey of Ontario Residents," Discussion Papers dp-00-37, Resources For the Future. [Downloadable!]
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  10. Hammitt, James K & Graham, John D, 1999. "Willingness to Pay for Health Protection: Inadequate Sensitivity to Probability?," Journal of Risk and Uncertainty, Springer, vol. 18(1), pages 33-62, April. [Downloadable!] (restricted)
  11. Krupnick, Alan & McConnell, Virginia & Stoessell, Terrell & Cannon, Matthew & Batz, Michael, 2000. "Cost-Effective NOx Control in the Eastern United States," Discussion Papers dp-00-18, Resources For the Future. [Downloadable!]
  12. Palmer, Karen & Burtraw, Dallas, 1997. "Electricity restructuring and regional air pollution," Resource and Energy Economics, Elsevier, vol. 19(1-2), pages 139-174, March. [Downloadable!] (restricted)
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  13. Goulder, Lawrence H. & Parry, Ian W. H. & Williams III, Roberton C. & Burtraw, Dallas, 1999. "The cost-effectiveness of alternative instruments for environmental protection in a second-best setting," Journal of Public Economics, Elsevier, vol. 72(3), pages 329-360, June. [Downloadable!] (restricted)
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