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Insights are offered into the interactions of EUA and CER emissions prices with key energy markets across the EU. A wide range of regional gas and power markets, in addition to global oil markets, are considered. Power prices are broken down by base, peak and off-peak to account for regional...
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Current decarbonization policies neglect damages from local air pollutants. We analyze the trade-off between complementary taxation of carbon emissions and local air pollution. We quantify results for the European power market until 2050. Taxing only air pollution results in social cost of 5,890...
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