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Pricing Carbon into Energy Costs

MCLI Recommendation: “Congress should clarify authorization of federal agencies such as EPA, FERC, and DOI to support the pricing of the carbon attributes of energy resources.”

LPDD Recommendation: “Congress should consider adoption of a national carbon tax to encourage investment in new low-carbon energy resources, while also aligning carbon pricing with the broader policies related to the pricing of interstate energy markets.”

LPDD Recommendation: “Congress should consider requiring the consideration of carbon costs in agency regulatory impact assessment and cost-benefit analysis, including by independent agencies and federal agencies allocating funding to state and local governments.”

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11 resources

Resource Public Utilities

Report, Independent System Operators (ISOs) & Carbon Pricing: An Explainer

This 2020 report from Climate Xchange surveys the policy options for carbon pricing at the Independent System Operator (ISO) level. ISOs coordinate real-time electricity flow, ensure fair competition,...
Resource Congress

Report, The Social Cost of Carbon in Taxes and Subisidies

Columbia’s Center of Global Energy Policy has published an analysis of recent efforts to use the SCC as a direct value for taxes and subsidies applied to economic activity with a negative or positive ...
Resource Executive Branch

Report, Carbon Pricing in Wholesale Electricity Markets: An Economic and Legal Guide

The Institute for Policy Integrity’s 2020 report explains how such carbon-pricing rules in organized wholesale electricity markets can improve economic efficiency. It then explores the economic princi...
Resource Congress

National Academies Papers on the Cost of Carbon

The National Academies of Sciences, Engineering and Medicine published a 2016 Assessment of Approach to Updating the Social Cost of Carbon (downloadable with free account), the lead measure by which f...
Resource Executive Branch

FERC Technical Conference regarding Carbon Pricing in Organized Wholesale Electricity Markets (Sept. 2020)

At a September 2020 FERC Technical Conference, legal experts agreed that FERC does have the legal authority to implement a carbon price. Under sections 206 and 205 of the Federal Power Act, FERC has t...
Resource Executive Branch

Report, Enhancing the Social Benefits of Regulatory Review

The Institute for Policy Integrity’s 2020 report, Enhancing the Social Benefits of Regulatory Review, focuses on potential reforms through the Office of Information and Regulatory Affairs (OIRA) at th...
Resource Congress

Resources for the Future Reports on Social Cost of Carbon

Resources for the Future coordinate economists and scientists to improve the science behind estimates of the SCC. They have published a range of briefs, reports, and testimony on improving utilization...
Resource Executive Branch

Report, The Social Cost of Greenhouse Gases: An Overview

In December 2023, EPA finalized updated values for the social cost of greenhouse gases (SC-GHG), following public comment and expert peer review. The agency derived these estimates using the best avai...
Resource Congress

Costofcarbon.org

Costofcarbon.org, a project of the Institute for Policy Integrity, compiles a suite of resources and literature on the evolving effort to properly value the cost of carbon pollution, and highlights ef...
Example Public Utilities

NYISO carbon pricing proposal

The New York Independent System Operator has released a Carbon Pricing Straw Proposal, which would reflect the cost of carbon emissions in wholesale energy market offers via a “carbon charge.” The Pro...
Resource Congress

Institute for Policy Integrity Report on Social Cost of Carbon

The Institute for Policy Integrity has published a suite of helpful reports analyzing the Social Cost of Carbon. A 2015 report, Expert Consensus on the Economics of Climate Change, found among its res...