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The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System

Author

Listed:
  • Reins, Leonie
  • Fischer, Carolyn

    (Resources for the Future)

  • Burtraw, Dallas

    (Resources for the Future)

  • Langlet, David
  • Löfgren, Åsa
  • Mehling, Michael
  • Weishaar, Stefan
  • Zetterberg, Lars
  • van Asselt, Harro
  • Kulovesi, Kati

Abstract

The EU ETS has implemented a variety of reforms to attempt to boost market prices, but have resisted a minimum auction price.Opponents to implementing a price floor argue it would interfere with the market and be tantamount to a tax.This analysis shows that a minimum auction price is a component of good program design.A minimum auction price is necessary to accommodate the portfolio of overlapping energy and climate policies.Legal analysis finds a minimum auction price would not be a fiscal instrument (tax) and would not affect Member State’s energy choices.

Suggested Citation

  • Reins, Leonie & Fischer, Carolyn & Burtraw, Dallas & Langlet, David & Löfgren, Åsa & Mehling, Michael & Weishaar, Stefan & Zetterberg, Lars & van Asselt, Harro & Kulovesi, Kati, 2019. "The Legal and Economic Case for an Auction Reserve Price in the EU Emissions Trading System," RFF Working Paper Series 19-23, Resources for the Future.
    • Handle: RePEc:rff:dpaper:dp-19-23
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    Cited by:

    1. Hintermayer, Martin, 2020. "A Carbon Price Floor in the Reformed EU ETS: Design Matters!," VfS Annual Conference 2020 (Virtual Conference): Gender Economics 224576, Verein für Socialpolitik / German Economic Association.
    2. Hintermayer, Martin, 2020. "A carbon price floor in the reformed EU ETS: Design matters!," Energy Policy, Elsevier, vol. 147(C).
    3. Hintermayer, Martin, 2020. "A Carbon Price Floor in the Reformed EU ETS: Design matters!," EWI Working Papers 2020-3, Energiewirtschaftliches Institut an der Universitaet zu Koeln (EWI).

    More about this item

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • K32 - Law and Economics - - Other Substantive Areas of Law - - - Energy, Environmental, Health, and Safety Law
    • K34 - Law and Economics - - Other Substantive Areas of Law - - - Tax Law

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