“…Except 2015, all periods reflects 5 years, i.e., 2020 considers the years 2016 to 2020, ..., and 2050 the year 2046 to 2050.8 Appendix B contains detailed values. SeeMier et al ( , 2022,Siala et al (2022) for applications of the very same calibration.9 Optimality refers to full internalization of the social cost.10 The hour choice algorithm selects and weights hours that present the extremes of load, wind onshore, wind offshore, solar, and hydro generation. We obtain 280 hours and finally scale timeseries to match annual demand and full-load hours of all intermittent technologies.11 Indeed, steam turbines only use the steam generated from burning the respective fuel and are not burning it directly.…”