Emissions Trading and Competitiveness: Allocations, Incentives and Industrial Competitiveness under the EU Emissions Trading Scheme
Complying with the forthcoming tightening of CO2 emission allocations in the EU may mean big bills for the industries affected. In this special issue of Climate Policy journal, leading experts examine the impacts on competitiveness and the commercial incentives available from the CO2 allowance allocations under the methodologies, and whether - and if so at what stage - the ETS itself may need to be amended. The study is multidisciplinary, combining economic, legal and policy analysis with specific studies of impacts on electricity, cement and other industrial sectors and the allocation issues. It brings together the results of research conducted over the past two year from various research centres and consultancies in Europe, and in particular, work commissioned by the Carbon Trust and Climate Strategies Network. Through these, it presents the most comprehensive and detailed set of analyses yet conducted of the impacts of allocation on competitiveness - one of the most critical issues for the sectors affected and for the operation of the ETS.
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grandfathering versus outputbased allocation Damien Demailly Philippe Quirion
legal issues Angus Johnston
how and why? Cameron Hepburn Michael Grubb Karsten Neuhoff Felix Matthes Maximilien Tse
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abatement allocation methods allocation of allowances allowance allocation allowance price aluminium Article assumed assumption auction bidders carbon price Carbon Trust carbon-intensive Climate Policy closure CO2 allowances CO2 cost pass-through CO2 emissions CO2 price coal Comitology Commission Commission’s companies competition costs of CO2 countries decisions demand distortions EBITDA EC Treaty economic economic rents effect efficiency electricity prices emission allowances emission reductions Emissions Trading Scheme entrant allocation environmental estimates ETS Directive European extended cost Figure firms free allocation fuel grandfathering Greenhouse Gas higher impact implementation incentives installations investment issue Kyoto Kyoto Protocol leakage marginal cost Member NAPs Netherlands Neuhoff oligopolistic operation opportunity costs output output-based allocation pass-through rates perfect competition period phase plant potential power prices power sector power stations production cost profit maximization profits due Quirion reduce revenues scenarios Sijm spark spread technologies uniform benchmark unitary emission updating windfall profits