Carbon pricing and its effect on company profitability

In order to reach the 2°C climate target, the carbon price should rise significantly in order for it to be financially rewarding for companies to reduce their emissions. This research aims to find how a significant increase in the carbon price would affect the profitability of companies. Prior research has not found consensus on how regulatory policies affect companies. This research looks at profitability factors of carbon pricing through a mix of related issues such as the carbon risk, carbon pricing mechanisms and cost pass-through of additional costs. The research is quantitative and examines financial data and emissions data regarding scope 1 and scope 2 emissions on 328 European companies. The data analysis method utilised is a sensitivity analysis conducted as a scenario analysis. Different price increases and cost pass-through rates are tested to see how company profitability is affected. As the companies are distributed between 9 sectors and 53 industries, the results vary. The industries that are found to be affected by an increase in carbon pricing show drastic negative changes in profitability. The results complement prior research identifying the most carbon-intensive industries, but also provide some new insights on industries that may be affected by carbon pricing. Industries related to manufacturing, electricity and energy are partly significantly impacted, but also industries related to tourism and food show potential signs of impact when an increased carbon price is introduced.

Canadian Niagara Power Company fonds

Power at the Falls: The first recorded harnessing of Niagara Falls power was in 1759 by Daniel Joncairs. On the American side of the Falls he dug a small ditch and drew water to turn a wheel which powered a sawmill. In 1805 brothers Augustus and Peter Porter expanded on Joncairs idea. They bought the American Falls from New York State at public auction. Using Joncairs old site they built a gristmill and tannery which stayed in business for twenty years. The next attempt at using the Falls came in 1860 when construction of the hydraulic canal began by the Niagara Falls Hydraulic Power and Manufacturing Co. The canal was complete in 1861 and brought water from the Niagara river, above the falls, to the mills below. By 1881 the Niagara Falls Hydraulic Power and Manufacturing Co. had a small generating station which provided some electricity to the village of Niagara Falls and the Mills. This lasted only four years and then the company sold its assets at public auction due to bankruptcy. Jacob Schoellkopf arrived at the Falls in 1877 with the purchase of the hydraulic canal land and water and power rights. In 1879 Schoellkopf teamed up with Charles Brush (of Euclid Ohio) and powered Brush’s generator and carbon arc lights with the power from his water turbines, to illuminate the Falls electrically for the first time. The year 1895 marked the opening of the Adam No. 1 generating station on the American side. The station was the beginnings of modern electrical utility operations. The design and operations of the generating station came from worldwide competitions held by panels of experts. Some who were involved in the project include; George Westinghouse, J. Pierpont Morgan, Lord Kelvin and Nikoli Tesla. The plants were operated by the Niagara Falls Power Company until 1961, when the Robert Moses Plant began operation in Lewiston, NY. The Adams plants were demolished that same year and the site used as a sewage treatment plant. The Canadian side of the Falls began generating their own power on January 1, 1905. This power came from the William Birch Rankine Power Station located 500 yards above the Horseshoe Falls. This power station provided the village of Fort Erie with its first electricity in 1907, using its two 10,000 electrical horsepower generators. Today 11 generators produce 100,000 horsepower (75 megawatts) and operate as part of the Niagara Mohawk and Fortis Incorporated Power Group.

Ontario Paper Company Limited

On February 29, 1912 The Ontario Paper Company Limited was incorporated under the leadership of Col. Robert R. McCormick. Four months later construction began in Thorold, Ontario as this location was best for the abundance of power and water and water transportation. The first machine was started at the mill on September 5, 1913. The mill was one of the most advanced of its era, using electricity instead of water power. The mill was also the first of its kind as it combined pulp and paper making instead of separating the two operations.

An analysis of the domestic electric business of the Hartford electric light company, 1914-1926.

Cover title.

Principles of electricity; an intermediate text in electricity and magnetism,

First published, June 1931. Reprinted, July 1932 ... August 1939."

Electricity in theory and practice;

Mode of access: Internet.

Papers on alternating currents of electricity for the use of students and engineers,

Mode of access: Internet.

A physical treatise on electricity and magnetism.

Mode of access: Internet.

Popular electricity and the world's advance.

Editor: H. W. Young.

Elements of electricity, magnetism, and electro-dynamics, embracing the late discoveries and improvements, digested into the form of a treatise : being the second part of a course of natural philosophy, compiled for the use of the students of the university at Cambridge, New England.

The articles on electricity and magnetism were selected form Biot's Précis élémentaire de physique ; that on electro-dynamics is from Despretz's Traité élémentaire de physique, 4. éd., 1836.

Electricity & magnetism for beginners,

Mode of access: Internet.

Electricity simplified;

Mode of access: Internet.

Elementary electricity and magnetism;

Mode of access: Internet.

Looking forward : the phenomenal progress of electricity in 1912 /

Frontispiece and plates facing p. 25, 106, 155, 210 and 310.

Motor vehicles and motors, their design, construction and working by steam, oil and electricity;

V.2 is 1st ed.