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VIDEO: How Carbon Pricing Works

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VIDEO: How Carbon Pricing Works

October 3, 2019

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.

NYISO
About NYISO Author
We are an independent, not-for-profit corporation responsible for operating the state’s bulk electricity grid, administering New York’s competitive wholesale electricity markets, conducting comprehensive long-term planning for the state’s electric power system, and advancing the technological infrastructure of the electric system serving the Empire State.

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