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Energy and climate policies to 2020 : the impacts of the european " 20/20/20 " approach

Author

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  • Loreta Stankeviciute

    () (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

  • Patrick Criqui

    () (LEPII - Laboratoire d'Économie de la Production et de l'Intégration Internationale - UPMF - Université Pierre Mendès France - Grenoble 2 - CNRS - Centre National de la Recherche Scientifique)

Abstract

Purpose :The study aims to quantify the possible interactions between the three European objectives in the horizon of 2020 : (i) the reduction of 20% of greenhouse gas emissions (GHG) (2) the saving of 20% of the European energy consumption and (3) a share of 20% of renewable energies in the overall energy consumption. Particular focus is, however, placed on the influence of the CO2 emission reduction targets and on their consequences on the carbon price in 2020. Design/methodology/approach :In order to explore the interactions among the three European objectives and their induced effects, a number of scenarios are tested within a combination of two modeling tools : the POLES world energy model and ASPEN, an auxiliary model dedicated to the analysis of quota trading systems. With reasonable assumptions for the burden sharing among the Member States, the energy efficiency objectives and the renewable energy targets are achieved using national quota systems in each European country (white and green certificate systems and their implicit prices), while the CO2 emission reduction is carried out within the European Emissions Trading Scheme (ETS) in line with the objective of 20% emission reduction.Findings :The paper shows, in particular, that the two quota policies (WC and GC) decrease significantly the European marginal emission reduction cost and consequently, the compliance costs for ETS participants. The high renewable target compliance cost could be reduced significantly if carbon price signal and energy saving policies are in place. The paper also shows that the sole carbon price signal has a limited influence for stimulating renewable energies and energy savings and thus concludes on the need for specific policies targeting these two areas.

Suggested Citation

  • Loreta Stankeviciute & Patrick Criqui, 2008. "Energy and climate policies to 2020 : the impacts of the european " 20/20/20 " approach," Post-Print halshs-00226208, HAL.
  • Handle: RePEc:hal:journl:halshs-00226208
    DOI: 10.1108/17506220810883243
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00226208
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    File URL: https://halshs.archives-ouvertes.fr/halshs-00226208/document
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    Cited by:

    1. Ghaderi, A. & Parsa Moghaddam, M. & Sheikh-El-Eslami, M.K., 2014. "Energy efficiency resource modeling in generation expansion planning," Energy, Elsevier, vol. 68(C), pages 529-537.
    2. Blyth, William & Bunn, Derek & Kettunen, Janne & Wilson, Tom, 2009. "Policy interactions, risk and price formation in carbon markets," Energy Policy, Elsevier, vol. 37(12), pages 5192-5207, December.
    3. Streimikiene, Dalia, 2012. "The impact of international GHG trading regimes on penetration of new energy technologies and feasibility to implement EU Energy and Climate Package targets," Renewable and Sustainable Energy Reviews, Elsevier, vol. 16(4), pages 2172-2177.

    More about this item

    Keywords

    CO2 emissions; carbon price; white certificate price; green certificate price; European Union;

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