Electricity generation, one of the leading sources of greenhouse gas emissions, rarely accounts for the social cost of damages caused by carbon dioxide emissions. Embedding these costs into market rates is one way to address the pressing need for decarbonization. In this year’s Environmental Law and Policy Annual Review (ELPAR), a special issue of The Environmental Law Reporter, authors Bethany Davis Noll and Burcin Unel argue that addressing the price of emissions falls within the authority of the Federal Energy Regulatory Commission (FERC). The authors examine how imposing a cost on carbon aligns with FERC’s main goal of ensuring just and reasonable rates, and they explore opportunities and limits for FERC’s authority.