The introduction of mandatory controls and a trading scheme covering approximately half of all carbon dioxide emissions across Europe has triggered a debate about the impact of emissions trading on the competitiveness of European industry. Economic theory suggests that, in many sectors,...

The objective of this paper is to examine the possible relationships between climate clubs and systems and services developed to enable the smooth functioning of Emissions Trading Schemes (ETSs), linked pairs of ETSs and networks of ETSs coming together in various formations that can be...

The UK Government has developed a carefully designed Capacity Mechanism to ensure security of supply in the GB electricity system. This paper criticises the methods used to determine the amount of capacity to procure, and argues that the amount finally proposed is likely to be excessive,...