Discrimination against Newcomers: Impacts of the GermanEmission Trading Regime on the Electricity Sector

The EU Directive 2003/87/EC for the introduction of a European emission trading system has leftthe task of allocating the emission allowances mainly to the member states. In Germany the details of theallocation method are laid down in the Allocation Act (ZuG 2007). One central element of the Allocation Act isthe so called transfer-rule, which is intended to provide incentives for the replacement of emission intensiveinstallations and thus to achieve environmental benefits. This paper takes a closer look at the transfer-rule’secological impacts and competitive effects in the field of electricity generation.[...]

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Year of publication:	2005-06-01
Authors:	Bode, Sven ; Hübl, Lothar ; Schaffner, Joey ; Twelemann, Sven
Institutions:	Universität <Hannover> / Wirtschaftswissenschaftliche Fakultät
Subject:	Wettbewerb \| market microstructure \| Elektrizität \| Umweltzertifikathandel

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1. INTRODUCTION
2. IMPLEMENTATION OF THE EU-DIRECTIVE IN GERMANY
3. PRICE FORMATION AND EMISSIONS REDUCTIONS IN EMISSIONSTRADING
4. LICENSING AND TECHNOLOGY FRAMEWORK FOR POWER PLANTS
4.1 Timeframe for planning and building
4.2 Consequences of the response time and the development of the degree of efficiency
4.3 Degree of efficiency in cases of newly built power stations
5. ENVIRONMENTAL IMPACT OF THE TRANSFER-RULE
5.1 Managerial decision on replacement investments in the absence of climate policyinstruments
5.2 Managerial decision on replacement investments in the case of emissions tradingwithout the transfer-rule
5.3 Managerial decision on replacement investments with both emissions tradingand transfer-rule
5.4 Summary of the impacts on entity-level
5.5 Environmental impact of clause 10 of the Allocation Act at a on national level
6. COMPETITIVE EFFECTS OF THE TRANSFER-RULE
6.1 Motivation and structure of the competition analysis
6.2 Actual state of competition in the German electricity market
6.3 Competitive Effects of the transfer-rule
6.4 The transfer-rule as an unallowed state aid?
7. CONCLUSIONS
REFERENCES

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