Over-allocation or abatement? : a preliminary analysis of the EU ETS based on the 2005 emission data
Name
2006-016.pdf
Size
529.71 KB
Format
Adobe PDF
Checksum (MD5)
834a640cb22a97ac0c57f8f2d3716f7d
Author(s)
Ellerman, A. Denny
Buchner, Barbara
Date Issued
2006
Publisher
MIT Center for Energy and Environmental Policy Research
Series/Report no.
MIT-CEEPR (Series) ; 06-016WP.
Abstract
This paper provides an initial analysis of the EU ETS based on the installation-level data for verified emissions and allowance allocations in the first trading year. Those data, released on May 15, 2006, and subsequent updates revealed that CO2 emissions were about 4% lower than the allocated allowances. The main objective of the paper is to shed light on the extent to which over-allocation and abatement have taken place in 2005. We propose a measure by which over-allocation can be judged and provide estimates of abatement based on emissions data and indicators of economic activity as well as trends in energy and carbon intensity. Finally, we discuss the insights and implications that emerge from this tentative assessment.
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