The Magnitude of Electricity Externalities Through Time

Externalities have been an important issue in electric resource selection decisions. However, through time, environmental impacts of existing and new facilities have been increasingly regulated and the externalities internalized through more advanced pollution control technologies. In this paper we examine how the magnitude of externalities has changed through time by computing and comparing externalities for representative electricity generating facilities for different time periods and standards, including those built prior to the 1980s, recent facilities and standards, and current and future facilities and standards. These comparisons also allow us to examine the net benefits of retiring an existing facility and replacing it with a new/relicensed facility meeting current environmental standards.