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Policy Option Modeling: Update

Policy Option Modeling: Update. Meeting of the Illinois Climate Change Advisory Group 130 West Mason Street, Springfield, IL April 3, 2007. Governor Rod R. Blagojevich Climate Change Advisory Group. Why model?. Examine different policy scenarios, including sensitivities

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Policy Option Modeling: Update

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  1. Policy Option Modeling: Update Meeting of the Illinois Climate Change Advisory Group 130 West Mason Street, Springfield, IL April 3, 2007 Governor Rod R. Blagojevich Climate Change Advisory Group

  2. Why model? • Examine different policy scenarios, including sensitivities • Examine the cost of policy packages • Assess interplay between policy options

  3. Factors influencing choice of model approach • Timeline • Cost • Capability • Track record

  4. Power sector modeling with separate analysis for other sectors GSP Employment Modeling Power - dispatch - electricity prices - new builds Energy Prices REMI Modeling of Macroeconomic impacts Separate Analyses New Policies • Transport • - VMT • mode switching Energy Demand • Industry • Commercial • Residential Agriculture • - production • efficiency Emissions - reductions - cost of reductions

  5. Next steps: Subgroup considerations • Reference Case • 3 critical assumptions for power sector modeling: • Price of natural gas • Rate of electrical load growth • Cost and performance of new power plants • Off the shelf assumptions from EIA and EPA available • Determine which policies are appropriate for modeling • Report to CCAG

  6. Discussion Questions and Comments

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