The European Union Emission Trading Scheme (EU ETS) has been implemented to provide a common climate policy instrument across European Union countries, to contribute to a credible investment perspective for low-carbon investors and support further European integration of energy markets. Thus the EU ETS is a key element of the European Energy Union.However, given the accumulation of a large surplus ...
One of the central debates surrounding the design of the European Union Emissions Trading Scheme is the approach to address carbon leakage concerns. Correctly identifying the economic activities exposed to the risk of carbon leakage represents the first step in mitigating the risk effectively. This paper assesses the robustness of the quantitative assessment criteria used by the European Commission ...
In January 2014 the European Commission proposed the introduction of a Market Stability Reserve (MSR) to improve the functioning of the European Union Emissions Trading System (EU ETS). According to the European Commission, the MSR is designed to adjust the EU ETS to supply-demand imbalances and protect the system from unexpected and sudden demand shocks and by doing so, ensure an efficient abatement ...
Der deutsche Atomausstieg in 2022 und die gleichzeitig stetig steigende Stromerzeugung durch fluktuierende Wind- und Sonnenenergie heizen in Deutschland, wie in Europa, seit geraumer Zeit eine Diskussion um die Versorgungssicherheitauf dem Strommarkt an. Dabei ist völlig unklar, wie Versorgungssicherheit – vor allem in der mittleren und langen Frist – gemessen werden soll. Das Fehlen eines klaren Konzeptes ...
In response to an imbalance between the demand and supply of permits within the European Union Emissions Trading System (EU ETS), the European Commission has proposed the introduction of a Market Stability Reserve (MSR). The MSR represents a quantity based automatic adjustment mechanism, which is designed to tackle the current surplus and introduce a degree of flexibility, allowing the system to respond ...
The 2014 reform of the German Renewable Energy Act introduces a mandatory shift from a fixed feed-in tariff to a floating premium system. This is envisaged to create additional incentives for project developers, but also impacts revenues and costs for new investments in wind generation. Thus uncertainties for example about balancing costs and the impact of the location specific generation profile on ...
The “Inclusion of Consumption in EU ETS” is currently gaining traction as a new approach to address carbon leakage and improve the effectiveness of the EU ETS, within legal and political constraints. It complements the current approach of coverage of emissions by upstream installations where trade exposed sectors at risk of leakage, such as steel and clinker, receive free allowances. In order to ensure ...
To assess how capital stocks adapt to energy price changes, it is necessary to account for the impacts on different vintages of capital and to account separately for price-induced and autonomous improvements in the energy efficiency of capital stock. The results of econometric analysis for five manufacturing industries in 19 OECD countries between 1990 and 2005 indicate that higher energy prices resulted ...
Zur Bekämpfung des Klimawandels haben politische Entscheidungsträger auf europäischer, nationaler und regionaler Regierungsebene CO2-Reduktionsziele formuliert, die erhebliche Investitionen erfordern. Studien haben zahlreiche Marktbarrieren ermittelt, die diese Investitionen verhindern. Zur Überwindung dieser Barrieren wurden regulatorische, preis- und informationsbasierte Politikinstrumente implementiert. ...