| 来源类型 | FEEM working papers "Note di lavoro" series
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| 规范类型 | 论文
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| Redistribution Effects of Energy and Climate Policy: The Electricity Market |
| Lion Hirth; Falko Ueckerdt
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| 发表日期 | 2012
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| 出处 | Energy: Resources and Markets
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| 出版年 | 2012
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| 语种 | 英语
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| 摘要 | Energy and climate policies are usually seen as measures to internalize externalities. However, as a side effect, these policies redistribute wealth between consumers and producers, and within these groups. While redistribution is seldom the focus of the academic literature in energy economics, it plays a central role in real world policy debates. This paper compares the redistribution effects of two major electricity policies: support schemes for renewable energy sources, and CO2 pricing. We find that the redistribution effects of both policies are large, and they work in opposed directions: while renewables support transfers wealth from producers to consumers, carbon pricing does the opposite. More specifically, we show that moderate amounts of wind subsidies leave consumers better off even if they bear the costs of subsidies. In the case of CO2 pricing, we find that while suppliers as a whole benefit even without free allocation of emission certificates, large amounts of producer surplus are redistributed between different types of producers. These findings are derived from an analytical model of electricity markets, and a calibrated numerical model of the Northwestern European integrated power system. Our findings imply that a society with a preference for avoiding large redistribution might prefer a mix of policies, even if CO2 pricing alone is the first best climate policy in terms of allocative efficiency. |
| 特色分类 | Q42;Q48;L94;H23;D61;D62;C61;C63
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| 关键词 | Carbon Tax
Emission Trading
Redistribution
Consumer Surplus
Producer Surplus
Wind Power Generation
Electricity Market Modelling
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| URL | https://www.feem.it/en/publications/feem-working-papers-note-di-lavoro-series/redistribution-effects-of-energy-and-climate-policy-the-electricity-market/
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| 来源智库 | Fondazione Eni Enrico Mattei (Italy)
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/118021
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推荐引用方式
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Lion Hirth,Falko Ueckerdt. Redistribution Effects of Energy and Climate Policy: The Electricity Market. 2012.
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