The EU Emission Trading Scheme (EU ETS) is a key instrument in European climate policy. Evidence from the first trading period (2005-2007) and the first year of the Kyoto period 2008 dampened, however, ex-ante enthusiasm: because of substantial over-allocation of emissions allowances in the...

EU climate and energy policy defines ambitious objectives for the EU member countries requiring a fundamental change of energy systems. This paper suggests basing the analysis of restructuring options on energy services instead of energy flows. In order to provide the energy services in a...