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L'impact de la contrainte carbone sur le secteur électrique

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  • Ibrahim Ahamada

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

  • Djamel Kira

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

This paper asks whether the European Union Emission Trading Scheme (EU ETS) provides economic incentives to reduce carbon emissions. If so, electricity producers should include the price of carbon in their cost functions. After identifying different sub-periods of the EU ETS during its pilot phase (2005-2007), we model day-ahead electricity prices in France and Germany and look at their volatility around the fundamentals white evaluating the correlation between electricity prices in the two countries. We find that electricity producers in both countries were constrained to include the carbon price in their cost functions during the first two years of the EU ETS. We also find evidence of fuel switching in electricity-generation in Germany after the collapse of the carbon market. Furthermore, the EU ETS has greatly contributed to the partial alignment of the wholesale price of electricity in France to that in Germany.
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Ibrahim Ahamada & Djamel Kira, 2011. "L'impact de la contrainte carbone sur le secteur électrique," PSE-Ecole d'économie de Paris (Postprint) hal-00629901, HAL.
    • Handle: RePEc:hal:pseptp:hal-00629901
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