||John F. Kennedy School of Government, Cambridge, MA. Belfer Center for Science and Public Affairs.;National Energy Technology Lab., Pittsburgh, PA.;Environmental Protection Agency, Washington, DC. Air and Radiation Div.
The paper is divided into two volumes. Volume I describes IGCC technology, why it is an important advanced clean coal technology for generating electricity, the hurdles to near-term deployment, the 3Party Covenant financing and regulatory program to stimulate near-term IGCC deployment, and how the 3Party Covenant improves the economics of IGCC technology to make it competitive. Appendix A of Volume I outlines the components of federal legislation that are needed to implement the 3Party Covenant. Volume II provides a detailed legal analysis of the federal and state authorities and regulatory mechanisms for implementing the 3Party Covenant, including a review of traditional electric utility regulatory systems, the current regulatory systems in 5 specific states, and a model regulatory mechanism for review and approval of IGCC project costs under the 3Party Covenant.