VIDEO: How Carbon Pricing Works
The world we know runs on fossil fuels, but this creates the greenhouse gas carbon dioxide. So how do we meet the need for reliable energy while addressing climate change?
One comprehensive answer the New York ISO has proposed is to integrate the social cost of carbon into wholesale energy markets.
Carbon pricing creates an economic incentive for power providers to invest in cleaner energy generation. If established in New York, it will help the state meet new aggressive carbon reduction goals set by policymakers while reducing emissions from grid-based power generation.
In this short video, we explain how carbon pricing can work in New York's wholesale energy markets. Recent research illustrates that it can result in a cleaner environment, greater innovation in new technology, and cost savings for consumers.
Visit the carbon pricing web page for more information.