Abstract
In this paper, we adopt a non-radial directional distance function to analyze the efficiency and shadow price of CO2 emissions of coal-fired power plants. Using a sample of Shanghai's 20 coal-fired power plants, we find that the efficiency performance of power plants remained steady during the period 2007–2010. On average, the carbon abatement costs of Shanghai's power plants increased from 20.58 yuan/ton to 39.67 yuan/ton during 2007–2010. Although the average shadow price of the power plants increased during the period, the price was still well below shadow prices for the energy consumption of the industries, and a little lower than the trading price in the ETS markets. In addition, the paper discusses the implications of the findings.
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