Potential impact of (CET) carbon emissions trading on China's power sector: A perspective from different allowance allocation options
Cong, RG; Wei, YM
2010
Source PublicationENERGY
ISSN0360-5442
Volume35Issue:9Pages:11,3921-3931
AbstractIn Copenhagen climate conference China government promised that China would cut down carbon intensity 40-45% from 2005 by 2020. CET (carbon emissions trading) is an effective tool to reduce emissions. But because CET is not fully implemented in China up to now, how to design it and its potential impact are unknown to us. This paper studies the potential impact of introduction of CET on China's power sector and discusses the impact of different allocation options of allowances. Agent-based modeling is one appealing new methodology that has the potential to overcome some shortcomings of traditional methods. We establish an agent-based model, CETICEM (CET Introduced China Electricity Market), of introduction of CET to China. In CETICEM, six types of agents and two markets are modeled. We find that: (1) CET internalizes environment cost; increases the average electricity price by 12%; and transfers carbon price volatility to the electricity market, increasing electricity price volatility by 4%. (2) CET influences the relative cost of different power generation technologies through the carbon price, significantly increasing the proportion of environmentally friendly technologies; expensive solar power generation in particular develops significantly, with final proportion increasing by 14%. (3) Emission-based allocation brings about both higher electricity and carbon prices than by output-based allocation which encourages producers to be environmentally friendly. Therefore, output-based allocation would be more conducive to reducing emissions in the Chinese power sector. (C) 2010 Published by Elsevier Ltd.
KeywordCarbon Emissions Trading Emission-based Allocation Output-based Allocation Agent-based Model
Subject AreaThermodynamics ; Energy & Fuels
Indexed BySCI
Language英语
WOS IDWOS:000281178000048
Citation statistics
Cited Times:116[WOS]   [WOS Record]     [Related Records in WOS]
Document Type期刊论文
Identifierhttp://ir.casisd.cn/handle/190111/4403
Collection中国科学院科技政策与管理科学研究所(1985年6月-2015年12月)
Recommended Citation
GB/T 7714
Cong, RG,Wei, YM. Potential impact of (CET) carbon emissions trading on China's power sector: A perspective from different allowance allocation options[J]. ENERGY,2010,35(9):11,3921-3931.
APA Cong, RG,&Wei, YM.(2010).Potential impact of (CET) carbon emissions trading on China's power sector: A perspective from different allowance allocation options.ENERGY,35(9),11,3921-3931.
MLA Cong, RG,et al."Potential impact of (CET) carbon emissions trading on China's power sector: A perspective from different allowance allocation options".ENERGY 35.9(2010):11,3921-3931.
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