In this paper we analyse the current trend towards a higher degree of market integration in Europe and identify those aspects that are particularly relevant for Italy. The Italian involvement in this process appears comparatively modest: contributions from policy makers, practitioners and...

For a long time considered as technologically mature, electric systems are now facing a period of rapid changes. The advent of smart grids, smart meters and electromobility is creating new challenges not only in terms of technological innovation but also in terms of economic and technical...

We estimate an Error-Correction Model by using dynamic OLS to investigate carbon price drivers in early Phase II. The futures contract negotiated from January to December 2008 on the European Climate Exchange is the focus of our analysis. We consider the allowance price as explained by oil...

Does current and future supply affect the market price of pemits? The answer should be positive as the market itself was created by the governments that also control the supply. However, governments themselves may be uncertain about the relation between supply and price and may go through a...