volume 21, issue 1, P67-87 2005
DOI: 10.1093/oxrep/gri004
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R. Green

Abstract: Over the last fifteen years, an increasing number of electricity industries have replaced vertical integration with markets as the main method of organising production. Electrical energy is traded in many European and US markets, while the US also has markets for generating capacity. US generators can reduce the cost of complying with environmental regulations by trading emissions of sulphur dioxide, while Europe has just started a carbon dioxide emissions trading scheme. This article discusses the way in whic…

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