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The EU ETS: CO2 prices drivers during the learning experience (2005-2007)

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Author Info
Emilie Alberola (Mission Climat Caisse des Dépôts - Université Panthéon-Sorbonne - Paris I)
Julien Chevallier () (EconomiX - CNRS : UMR7166 - Université de Paris X - Nanterre)
Benoît Chèze (EconomiX - CNRS : UMR7166 - Université de Paris X - Nanterre)

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Abstract

This chapter identifies the main price drivers of European Union Allowances (EUAs), valid for compliance under the European Union Emissions Trading Scheme (EU ETS) created in 2005 to regulate CO2 emissions of more than 10,000 high carbon-intensive installations across Member States. Based on key design features of the EU ETS, this chapter develops carbon pricing strategies based on allowances supply and demand, institutional decisions, and the influence of other energy markets and weather conditions. Finally, we discuss the likely effects on economic growth on CO2 emissions and carbon prices as a by product. The discussions developed in this chapter focus on Phase I (2005-2007) of the EU ETS, which may described as the “pilot” period for the future development of this environmental market scheme.

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Paper provided by HAL in its series Working Papers with number halshs-00389916_v1.

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Date of creation: 30 May 2009
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Handle: RePEc:hal:wpaper:halshs-00389916_v1

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Related research
Keywords: EU ETS; Cap-and-Trade Program; Climate Change Policy; CO2 Price; Energy Markets; Weather Influences; Institutional Influences; Energy Policy;

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  1. Emilie Alberola & Julien Chevallier, 2009. "European Carbon Prices and Banking Restrictions: Evidence from Phase I (2005-2007)," The Energy Journal, International Association for Energy Economics, vol. 30(3), pages 51-80.
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  2. Alberola, Emilie & Chevallier, Julien & Cheze, Benoi^t, 2008. "Price drivers and structural breaks in European carbon prices 2005-2007," Energy Policy, Elsevier, vol. 36(2), pages 787-797, February. [Downloadable!] (restricted)
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This page was last updated on 2009-11-28.

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