Reforming the EU emissions trading system: An alternative to the market stability reserve

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dc.contributor.authorAndor, Mark A.
dc.contributor.authorFrondel, Manuel
dc.contributor.authorSommer, Stephan
dc.date.accessioned2015-06-29T12:33:43Z
dc.date.available2015-06-29T12:33:43Z
dc.date.issued2015
dc.description.abstractPrices for emission allowances in Europe’s Emissions Trading System (ETS) have remained low for many years. This fact has given rise to controversies on whether there is a need for a fundamental reform of the ETS. Potential reform proposals include the introduction of a price floor for certificates and a market stability reserve (MSR), which is a rule-based mechanism to steering the market volume of allowances and the preferred approach of the European Commission. With the introduction of the MRS, the Commission aims at increasing and stabilizing certificate prices in the medium- and long-term. In this article, we alternatively recommend retaining the ETS as it is, rather than supplementing it by introducing a minimum price floor or a market stability reserve. Instead, mistakes from the past should be corrected by a single intervention: the final elimination of those 900 million allowances that were taken out of the market in 2014, but would again emerge in the market in 2019 and 2020 via backloading.en
dc.identifier.urihttp://hdl.handle.net/2003/34128
dc.identifier.urihttp://dx.doi.org/10.17877/DE290R-7515
dc.language.isoende
dc.relation.ispartofseriesDiscussion Paper / SFB 823;19/2015
dc.subjectemissions taxen
dc.subjectprice corridoren
dc.subjectemissions capen
dc.subject.ddc310
dc.subject.ddc330
dc.subject.ddc620
dc.titleReforming the EU emissions trading system: An alternative to the market stability reserveen
dc.typeTextde
dc.type.publicationtypeworkingPaperde
dcterms.accessRightsopen access

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Sonderforschungsbereich (SFB) 823