The Implications of California Cap-and-Trade

Analysis of AB 32

Energy and Environment Intelligence Webinar Series
Categorized Under: Energy

The stage is set for California to become the first state to implement mandatory greenhouse gas (GHG) emissions caps for major industries in January 2013. And while a recent ruling in December—regarding the Low Carbon Fuel Standards affecting the transportation sector—potentially threatens to hinder the California Air Resources Board’s ability to enforce such restrictions, the cap-and-trade compliance obligations under AB 32 are scheduled to start January 1, 2013, with two allowance auctions to be held later this year.

In this webinar, ICF experts Steve Fine and Chris MacCracken explored the implications of AB 32 on regulated entities and other participants in the markets. They also discussed the results from the recently released ICF study performed to assist entities that will be directly affected by cap-and-trade regulations, as well as affected markets and industries, and provided an overview and status update of the program with a detailed analysis of key AB 32 program elements.

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Presenters

Steve Fine
Vice PresidentICF International

An expert on environmental markets, Steve Fine has led numerous multistakeholder engagements, including the Edison Electric Institute, U.S. Climate Action Partnership, Regional Greenhouse Gas Initiative (RGGI), and Clean Energy Group. His work has concentrated on evaluating the economics of conventional and renewable energy resources within the context of developing environmental regulations.

Mr. Fine was an invited panelist to a U.S. Senate Roundtable discussion on the future of 3P and 4P legislation conducted by Senators Carper and Alexander. He has a B.A. from the University of California, Santa Cruz, and an M.A. in Economics from the Johns Hopkins School of Advanced International Studies.
Chris MacCracken
PrincipalICF International

Chris MacCracken has more than 15 years of experience in energy and economic modeling and assessing the potential impacts of environmental policies on the energy sector. He has directed a number of studies examining the impacts of environmental regulation on emission, power and fuel markets, compliance planning, and electric generating unit valuations for electric utilities, independent power producers (IPPs), industry associations, and nonprofit policy organizations. He is lead author of the Emission Markets chapter in ICF International’s quarterly Integrated Energy Outlook publication.

Prior to joining ICF in 2000, Mr. MacCracken worked with the Global Climate Change Group at Battelle-Pacific Northwest National Laboratory. He modeled the impacts of climate change policy and the role of advanced technologies in mitigating climate change.