Download or read book EU Emission Trading Scheme and the Effect on the Price of Electricity written by Nordisk Ministerråd and published by Nordic Council of Ministers. This book was released on 2004 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Starting from January 1, 2005 the European Union will implement a scheme for trading with greenhouse gas (GHG) emission allowances. During the first trading period, 2005-2007, the scheme covers only CO2, and there is no international commitment to reduce the emission of GHG. During the second period, 2008-2012, the European Union has committed to reducing their emissions of GHG by 8% compared to 1990 levels. Emissions trading will create a cost of CO2 emissions and increase the marginal cost of producing electricity in fossil-fueled plants. This will result in an increase in the electricity price. For the period of 2005-2007, the likely range of allowance prices in the EU is estimated to be 1-5/tonne CO2 and for 2008-2012, 8-13/tonne CO2. Based on these estimates the effect on the price of electricity is analyzed. In the short run, the price increases in the Nordic countries, except Jutland, is less than the increase in marginal cost for coal plants. In the somewhat longer run (2012) the price increase is approximately the same as the increase in the marginal cost of modern gas-fired plants.
Download or read book Markets for Carbon and Power Pricing in Europe written by Francesco Gullì and published by Edward Elgar Publishing. This book was released on 2009-01-01 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether it concerns environmental economics or law and economics, two areas of science in which I feel well at home, publisher Edward Elgar is a front-runner time and again with relevant and solid publications. This time is no exception, with this book edited by Francesco Gullì. Edwin Woerdman, Tijdschrift voor Energierecht Why do power prices seem to be correlated with the carbon price in some markets and not in others? This crucial question is at the centre of Francesco Gullì s enlightening book, through which the contributing authors investigate a number of related issues. In particular, they explore why power firms are not consistent in passing-through into power prices the opportunity cost of carbon. They also examine the relationship between the pass-through mechanism and the structure of the power market. This informative study brings together and interprets original contributions by leading experts from every EU country. Beginning with an overview of the European Union Emissions Trading System (EU ETS) along with an in-depth analysis of the early results and the theoretical issues involved, the book then goes on to explore the main European power markets via a number of empirical case studies. Overall, this volume offers a genuinely comprehensive analysis on the relationship between carbon and power markets and, as such, will prove a valuable contribution to the debate on the EU ETS and to the literature on the interaction between environmental policy and the structure of environmentally regulated markets. Markets for Carbon and Power Pricing in Europe will be of great interest to researchers and academics within general economics, environmental and energy economics. It will also be warmly welcomed by policymakers, regulators and power sector operators.
Download or read book Emissions Trading written by Manuel Frondel and published by . This book was released on 2008 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The EU Emission Trading Scheme After One Year written by and published by Nordic Council of Ministers. This book was released on 2005 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Update on the Latest Developments in the EU Emission Trading Scheme written by Norden and published by Nordic Council of Ministers. This book was released on 2005-09-01 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Nordic Council of Ministers commissioned an update study on the developments of the European Emissions Trading Scheeme (EUETS). The focus of the study is the interaction between the EUETS and the Nordic electricity market in general and the electricity prices to the industry in particular. The study was presented a seminar organises by the NCM in mid-march to discuss the developments with industry and market actors.
Download or read book Business Consequences of the EU Emissions Trading Scheme written by and published by CEPS. This book was released on 2005 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EU Emission Trading Scheme and the Effect on the Price of Electricity written by ECON Analysis AB and published by . This book was released on 2004 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book EU Emission Trading Economical Effects of Emission Auctions written by Berit Tennbakk and published by Nordic Council of Ministers. This book was released on 2008 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The EU Emissions Trading Scheme written by Sonja Butzengeiger and published by Routledge. This book was released on 2018-12-07 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special issue of the Climate Policy journal outlines the fundamentals of the new European Emissions Trading Scheme (EU ETS), assesses the strategies for and impact of implementation and highlights the scheme's potential, including positive aspects and remaining hurdles. The EU Emission Trading Scheme (EU ETS) is the first international trading scheme for CO2 in the world. Its aim is to reduce the cost of compliance to existing targets under the Kyoto Protocol. From 1st January 2005, companies in high-energy sectors covered by the scheme must limit their CO2 emissions to allocated levels, arranged in two periods: from 2005-2007 and 2008-2012 (to match the first Kyoto commitment period). In practice, the scheme is likely to cover over 12,000 installations across the European Union, corresponding to approximately 46% of the total EU CO2 emissions. The EU ETS represents a significant development in working at an international level to combat dangerous climate change. The EU Emissions Trading Scheme presents a comprehensive and insightful analysis of the EU ETS, written by international experts in the field. The publication includes the latest research on emissions credits, the interaction of the trading scheme with national energy policies and the debate on future expansion.
Download or read book Pricing Carbon written by A. Denny Ellerman and published by Cambridge University Press. This book was released on 2010-01-28 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: The European Union's Emissions Trading Scheme (EU ETS) is the world's largest market for carbon and the most significant multinational initiative ever taken to mobilize markets to protect the environment. It will be an important influence on the development and implementation of trading schemes in the US, Japan, and elsewhere. However, as is true of any pioneering public policy experiment, this scheme has generated much controversy. Pricing Carbon provides the first detailed description and analysis of the EU ETS, focusing on the first 'trial' period of the scheme (2005–7). Written by an international team of experts, it allows readers to get behind the headlines and come to a better understanding of what was done and what happened based on a dispassionate, empirically based review of the evidence. This book should be read by anyone who wants to know what happens when emissions are capped, traded, and priced.
Download or read book The Long Run Decoupling of Emissions and Output Evidence from the Largest Emitters written by Gail Cohen and published by International Monetary Fund. This book was released on 2018-03-13 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: For the world's 20 largest emitters, we use a simple trend/cycle decomposition to provide evidence of decoupling between greenhouse gas emissions and output in richer nations, particularly in European countries, but not yet in emerging markets. If consumption-based emissions—measures that account for countries' net emissions embodied in cross-border trade—are used, the evidence for decoupling in the richer economies gets weaker. Countries with underlying policy frameworks more supportive of renewable energy and climate change mitigation efforts tend to show greater decoupling between trend emissions and trend GDP, and for both production- and consumption-based emissions. The relationship between trend emissions and trend GDP has also become much weaker in the last two decades than in preceding decades.
Download or read book National Allocation Plans in the EU Emissions Trading Scheme written by Michael Grubb and published by Earthscan. This book was released on 2010-09-23 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: The EU emissions trading scheme is the largest emissions control scheme in the world, capping almost half of European CO2 emissions. As the scheme emerges from its pilot phase, this special issue of Climate Policy journal analyses the lessons learned from the last two years and their implications for phase II.The volume presents some of the key analyses that helped inform the European Commission's decisions on national allocation plans, with research ranging from detailed country-by-country comparisons to more generic analysis that puts forward the case for harmonization. Challenging calls to seperate electricity from other sectors, a macroeconomic study suggests that the biggest efficiency gains come from inter-sectoral trading, even more than international trading. Empirical papers, which look at the expected scarcity of allowances in the market and merge models for the power and non-power sectors to project emissions and contrast these to the aggregate allocation volume, are complemented by two numerical simulations of trade and distributional effects, estimating the efficiency gains of the EU ETS in phase I and assessing allocation and distribution effects in the RGGI context.
Download or read book Emissions Trading and Competitiveness written by Michael Grubb and published by Routledge. This book was released on 2012-05-04 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: Complying with the forthcoming tightening of CO2 emission allocations in the EU may mean big bills for the industries affected. In this special issue of Climate Policy journal, leading experts examine the impacts on competitiveness and the commercial incentives available from the CO2 allowance allocations under the methodologies, and whether - and if so at what stage - the ETS itself may need to be amended. The study is multidisciplinary, combining economic, legal and policy analysis with specific studies of impacts on electricity, cement and other industrial sectors and the allocation issues. It brings together the results of research conducted over the past two year from various research centres and consultancies in Europe, and in particular, work commissioned by the Carbon Trust and Climate Strategies Network. Through these, it presents the most comprehensive and detailed set of analyses yet conducted of the impacts of allocation on competitiveness - one of the most critical issues for the sectors affected and for the operation of the ETS.
Download or read book Emissions Trading as a Policy Instrument written by Marc Gronwald and published by MIT Press. This book was released on 2015-07-10 with total page 299 pages. Available in PDF, EPUB and Kindle. Book excerpt: Emissions trading schemes figure prominently among policy instruments used to tackle the problem of climate change, and the European Union Emissions Trading Scheme (EU ETS), begun in 2005, is the largest cap-and-trade market so far established. In the EU ETS, firms regulated by the scheme are provided with emissions allowances (each a one-time right to emit one ton of greenhouse gases) and can sell their unused allowances to firms that have higher rates of emissions. In this volume, leading economists offer empirical and theoretical perspectives on the early phases of the EU ETS implementation. The contributors discuss the features of the EU ETS market; and regulatory uncertainty stemming from rule changes; the political economy context of the trading scheme, including allowance allocation and the influence of lobbying on abatement decisions; the coexistence of such overlapping instruments for climate policy as pricing and taxation; the relationship between spot and futures markets for allowances, and firms' responses to various features of the EU ETS, including fluctuating allowance prices, free allocation, and links to the Kyoto process. They show that, although the basic theory behind emissions permit markets is straightforward, design features, market structure, and interactions with other policy instruments can influence the efficiency of the scheme.--
Download or read book Climate Change and the EU Emissions Trading Scheme ETS written by Larry Parker and published by DIANE Publishing. This book was released on 2011 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. The European Union¿s (EU) ETS is a cornerstone of the EU¿s efforts to meet its obligation under the Kyoto Protocol. It covers more than 10,000 energy intensive facilities across the 27 EU Member countries. A ¿Phase 1¿ trading period began 1/1/05. A second, Phase 2, trading period began in 2008. A Phase 3 will begin in 2013 designed to reduce emissions by 21% from 2005 levels. Contents of this report: (1) Overview; (2) Results from Phase 1 and 2; (3) Phase 3: Auctions; New Entrant Reserves; Decision on Eligible Industries; Flexibility Mechanisms and Price Volatility Control; Expanding Coverage; (4) U.S. Cap-and-Trade Proposals: Emission Inventories and Target Setting; Coverage; Allocation Schemes; Flexibility and Price Volatility. Illustrations.
Download or read book European Emissions Trading in Practice written by Stefano Clò and published by Edward Elgar Publishing. This book was released on 2011 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Emission markets are crucial both to provide the right incentives to reduce GHG emissions and to fund investments necessary for a transition to a low carbon world. Emission markets however cannot achieve these objectives if inappropriately designed. This book is a novel and fresh attempt to look at the real functioning of the EU Emission Trading Scheme and to assess its effectiveness and inconsistencies, its positive and negative impacts on industrial and financial markets. With the overall objective to improve its design and performance.' Carlo Carraro, University of Venice, Italy '. . . this important book has the great achievement of addressing a complicated and socially highly debated issue of how society could be given optimal incentives for emission reductions from a legal and economic perspective. Moreover, it not only addresses the various issues from a theoretical perspective, but provides important empirical evidence on the working of emissions trading as well. The book will undoubtedly have important lessons not only at the theoretical level, but also for policy makers interested in improving the effectiveness of emission trading schemes.' From the foreword by Michael Faure This unique and up-to-date book analyses the functioning of the European Emissions Trading Scheme (ETS) and assesses the extent to which relevant legislation has affected its capacity to promote cost-effective reduction of European carbon emissions. The author investigates whether inefficiency has been caused by both the ETS cap setting procedure and by the ETS relevant allocation rule, as defined by Directive 2003/87/EC. He then considers whether the new Directive 2009/29/EC, which reforms the ETS institutional design, is likely to improve the scheme's effectiveness by reducing the risk of carbon leakage which could potentially be a consequence of implementing a unilateral policy across the asymmetric political landscape of Europe. This well-documented book will appeal to researchers and postgraduate students in environmental law and environmental economics, as well as policymakers within environment, industry and economics, and electric and industrial operators and stakeholders. Environmental NGOs, energy and environmental consulting groups, members of the European Commission, and energy and environmental think-tanks will also find much to interest them in this insightful book.
Download or read book The EU Emission Trading System Goals Success and Challenges written by Ann-Sophie Theuring and published by GRIN Verlag. This book was released on 2017-09-05 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2016 in the subject Politics - Topic: European Union, grade: 2,0, ISEC-Institut Supérieur de l’Économie (dern. eufom University), language: English, abstract: This term paper discusses how to improve the European Union Emission Trading Scheme to have the lowest possible influence on companies with the highest possible reduction of greenhouse gases. Even though in theory this scheme may appear flawless there are a few conflicts and negative consequences which have a big influence on some participating countries. To get an overview, the problem of the emissions has to be explained first. After that, it is essential to explain the theory of the European Union Emission Trading Scheme with a summary of the main expected theoretical effects. There must be an empirical evaluation about the real effects in comparison to the theoretical expected ones. This part will be followed by a discussion on how the government needs to change the scheme to improve the consequences. At last, there will be a conclusion which will sum up the outcome of the discussion and give a perspective on the future. Being and staying healthy is one of the greatest wishes of humanity because it is assuring a longer life. But not only a highly developed health system protects people from illnesses, also living in a clean and safe environment extends the span of life. This is why it is always interesting to discuss new solutions of the government which shall protect the environment, improve our climate and increase our sustainability. In year 1997 the Kyoto protocol was added to the United Nations Framework Convention on Climate Change, short UNFCCC, to reduce those emissions gradually. In addition to this contract the European Union created in 2005 the European Union Emission Trading Scheme, short EU ETS. It allows companies to buy and trade a certain amount of emission permits.
