The value of transmission in electricity markets: Evidence from a nuclear power plant closure

The value of transmission in electricity markets: Evidence from a nuclear power plant closure / Lucas W. Davis & Catherine Hausman, Vox, 16/06/2014

http://www.voxeu.org/article/value-electricity-transmission-evidence-power-plant-closure

Estimating the economic value of energy transmission is difficult because investments in transmission capacity are endogenous to market conditions. This column presents recent research that takes advantage of a natural experiment to generate a credible counterfactual. The unexpected closure of the San Onofre Nuclear Generating Station in California increased generation costs by $350 million per year; it also led to increased carbon emissions worth $320 million annually…

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