@article{Wilson:10556,
      recid = {10556},
      author = {Wilson, Nathan E. and Palmer, Karen L. and Burtraw,  Dallas},
      title = {The Impact of Long-Term Generation Contracts on Valuation  of Electricity Generating Assets under the Regional  Greenhouse Gas Initiative},
      address = {2005},
      number = {1318-2016-103444},
      series = {Discussion Paper 05-37},
      pages = {23},
      year = {2005},
      abstract = {The Regional Greenhouse Gas Initiative is an effort by  nine states to constrain carbon dioxide emissions from the  electric power sector using a cap-and-trade program. This  paper assesses the importance of long-term electricity  contracts under the program. We find that 12.2% of  generation will be accounted for by long-term contracts in  2010, affecting select nuclear, hydroelectric, and  cogeneration units. The contracts will have a negligible  effect on the wholesale marginal cost of electricity and a  small effect on retail price. States may want to consider  contracts on a case-by-case basis when making decisions  about the initial distribution of emission allowances, but  they should account for effects on the portfolio of plants  owned at the firm level, not the effects on individual  facilities. Because of their relatively small effect, it  seems unnecessary to allow the existence of long-term  contracts to dictate the design of the overall program.},
      url = {http://ageconsearch.umn.edu/record/10556},
      doi = {https://doi.org/10.22004/ag.econ.10556},
}