Taking account of sinks credits as agreed in Bonn and Marrakech, this paper illustrates how market power could be exerted in the absence of the US ratification under Annex 1 trading and explores the potential implications of the non-competitive supply behavior for the international market of...

The electricity generation mix of many European countries is strongly dominated by fossil fuelled power plants. Given that CO2-emissions are responsible for a major part of the anthropogenic greenhouse effect, emission trading has been introduced in the EU in 2005. Under the European emissions...

The European Union (EU) has pledged to reduce greenhouse gas (GHG) emissions until the year 2030 by 55% compared to 1990. Recently, the EU institutions decided to introduce a new Emission Trading System for road transport, buildings and fuels for additional sectors (ETS2) in addition to the...