摘要：The Clean Air Act Amendments (CAAA) of 1990 instituted a historic experiment inemission allowance trading for sulfur dioxide (SO2). A necessary requirement for evaluatingthis experiment is an understanding of how the cost recovery rules and other guidance givento firms by state-level public utility commissions (PUCs) and elected bodies has affectedcompliance behavior. From the onset of the CAAA, there has been varied response by statepolicy-makers toward SO2compliance. This paper presents a compilation of these actions asthey took shape in states that were affected by the SO2program. Our primary interest is onthe proposals that emerged during the embryonic years of the allowance program, from 1990to 1993, when investment plans for utilities affected by the first phase of the programbeginning in 1995 were taking shape.
关键词：Clean Air Act Amendments; sulfur dioxide; allowance trading; regulation;electricity; public utility commissions
