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Auctioning of CO2 Emission Allowances in Phase 3 of the EU Emissions Trading Scheme
Löschel, Andreas; Sturm, Bodo; Benz, Eva - 2014
in 2013, to be increased to 100 % by 2020. In this paper, we emphasize the importance of a properly chosen auction design … as the significantly higher auction share, compared to the past and current trading phase, is expected to yield a thin … secondary market for CO2 allowances. We elaborate main criteria that a viable auction design is supposed to fulfil and propose a …
Persistent link: https://www.econbiz.de/10014213068
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Coordinating Cross-Border Congestion Management Through Auctions : An Experimental Approach to European Solutions
Jullien, Céline; Robin, Stéphane; Pignon, Virginie; … - 2011
scarce transmission capacity at cross-border level: the 'implicit auction', already used in some countries, and the … 'coordinated explicit auction', proposed by the European Transmission System Operators (ETSO) but not implemented yet. The main … advantage of the explicit auction is that it allows each country to keep its own power exchange running. In the European …
Persistent link: https://www.econbiz.de/10014176643
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The legal and economic case for an auction reserve price in the EU emissions trading system
Fischer, Carolyn; Reins, Leonie; Burtraw, Dallas; … - 2019 - Current Version: September 30, 2019
reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have … expressed concern that a minimum auction price would interfere with economic operations in the market or would be tantamount to … and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve …
Persistent link: https://www.econbiz.de/10012119540
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The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System
Fischer, Carolyn - 2020
reserve price that would set a minimum price in allowance auctions. Opponents of an auction reserve price in the EU ETS have … expressed concern that a minimum auction price would interfere with economic operations in the market or would be tantamount to … and legal arguments for and against an auction reserve price. Our economic analysis concludes that an auction reserve …
Persistent link: https://www.econbiz.de/10012847075
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Integration of the global carbon markets
Mizrach, Bruce Marshall - In: Energy economics 34 (2012) 1, pp. 335-349
Persistent link: https://www.econbiz.de/10009618827
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GHG emissions performance : alternative accounting approaches for the European Union
Milanés Montero, Patricia; Pérez-Calderón, Esteban; … - In: Prague economic papers : a bimonthly journal of … 30 (2021) 1, pp. 37-60
Persistent link: https://www.econbiz.de/10012813750
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The reformed EU ETS : intertemporal emission trading with restricted banking
Bocklet, Johanna; Hintermayer, Martin; Schmidt, Lukas; … - 2019
With the increase of the linear reduction factor (LRF), the implementation of the market stability reserve (MSR) and the introduction of the cancellation mechanism (CM), the EU ETS changed fundamentally. We develop a discrete time model of the intertemporal allowance market that accurately...
Persistent link: https://www.econbiz.de/10011990912
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Explaining the EUA-CER spread
Gronwald, Marc; Hintermann, Beat - 2016
Because of a link between the EU ETS and the Kyoto Flexible Mechanisms, the emission certificates traded on these markets are in principle interchangeable assets; despite of this, a persistent price difference exists. We explain this price spread using a theoretical model that combines three...
Persistent link: https://www.econbiz.de/10011436163
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Reflections on the international coordination of carbon pricing
Parry, Ian W. H. - 2016
The efficiency effects of carbon pricing depend on how it impacts distortions in fossil fuel markets, most notably from local air pollution externalities. By offsetting these distortions, carbon pricing may generate significant net economic benefits, so it is in countries own interests to...
Persistent link: https://www.econbiz.de/10011497937
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EU ETS facets in the net : how account types influence the structure of the system
Borghesi, Simone; Flori, Andrea - 2016
In this work, we investigate which countries have been more central during Phases I and II of the European Emission Trading Scheme (EU ETS) with respect to the different types of accounts operating in the system. We borrow a set of centrality measures from Network Theory's tools to describe how...
Persistent link: https://www.econbiz.de/10011451494