Carbon content of electricity futures in phase II of the EU ETS

Energy Journal

Volumn 36, Issue 4, 2015, Pages 61-83

  Fell, Harrison ^a   Hintermann, Beat ^b   Vollebergh, Herman ^c  

^a Department of Metallurgical and Materials Engineering   (United States)

^b UNIVERSITY OF BASEL   (Switzerland)

^c TILBURG UNIVERSITY   (Netherlands)

Author keywords

Carbon content; Cointegration; Cost pass through; Electricity markets; EU ETS; GARCH; Renewables

Indexed keywords

EID: 84943224066     PISSN: 01956574     EISSN: None     Source Type: Journal    
DOI: 10.5547/01956574.36.4.hfel     Document Type: Article

References (17)

1. Bosco, Bruno, Lucia Parisio, Matteo Pelagatti and Fabio Baldi (2010). "Long-run relations in European electricity prices." Journal of Applied Econometrics 25(5): 805-832. http://dx.doi.org/10.1002/jae.1095.
2. Bovenberg, A. Lans and Lawrence H. Goulder (2000). "Neutralizing the Adverse Industry Impacts of CO2 Abatement Policies: What Does It Cost?." Resources for the Future Discussion Paper 00-27.
3. Fell, Harrison (2010). "EU-ETS and Nordic Electricity." The Energy Journal 31(2): 1-26. http://dx.doi.org/10.5547/ISSN0195-6574-EJ-Vol31-No2-1.
4. Fezzi, Carlo and Derek W. Bunn (2010). "Structural Interactions of European Carbon Trading and Energy Prices." Journal of Energy Markets 2(4): 53-69.
5. Hintermann, Beat (2011). "Market Power, Permit Allocation and Efficiency in Emission Permit Markets." Environmental and Resource Economics 49(3): 327-349. http://dx.doi.org/10.1007/s10640-010-9435-9.
6. Hintermann, Beat, Sonja Peterson and Wilfried Rickels (2014). "Price and Market Behavior in Phase II of the EU ETS." Review of Environmental Economics and Policy (forthcoming).
7. Hintermann, Beat (2014). "Pass-through of CO2 emission costs to hourly electricity prices in Germany." CESifo Working Paper No. 4964.
8. Johansen, Soren (1995). Likelihood-based inference in cointegrated vector autoregressive models. New York: Cambridge Univ Press: 267 pp. http://dx.doi.org/10.1093/0198774508.001.0001.
9. Lise, Wietze, Jos Sijm and Benjamin F. Hobbs (2010). "The impact of the EU ETS on prices, profits and emissions in the power sector: simulation results with the COMPETES EU20 model." Environmental and Resource Economics 47(1): 23-44. http://dx.doi.org/10.1007/s10640-010-9362-9.
10. Lo Prete, Chiara and Catherine S Norman (2013). "Rockets and feathers in power futures markets? Evidence from the second phase of the EU ETS." Energy Economics 36: 312-321. http://dx.doi.org/10.1016/j.eneco.2012.08.028.
11. Lütkepohl, Helmut (2005). New introduction to multiple time series analysis. Berlin: Springer Verlag: 764 pp. http://dx.doi.org/10.1007/978-3-540-27752-1.
12. Pesaran, Hashem and Yongcheol Shin (1998). "Generalized Impulse Response Analysis in Linear Multivariate Models." Economics Letters 58(1): 17-29. http://dx.doi.org/10.1016/S0165-1765(97)00214-0.
13. Pouret, Laurent, Nigel Buttery and WJ Nuttall (2009). "Is nuclear power inflexible?." Nuclear Future 5(6): 333-340.
14. Sijm, Jos, S. Hers, Wietze Lise and B. Wetzelaer (2008). "The impact of the EU ETS on electricity prices." Final report to DG Environment of the European Commission. http://dx.doi.org/10.1080/14693062.2006.9685588.
15. Sijm, Jos, Karsten Neuhoff and Yihsu Chen (2006). "CO2 Cost Pass Through and Windfall Profits in the Power Sector." Climate Policy 6(1): 49-72.
16. Smale, Robin, Murray Hartley, Cameron Hepburn, John Ward and Michael Grubb (2006). "The impact of CO2 emissions trading on firm profits and market prices." Climate Policy 6(1): 29-46. http://dx.doi.org/10.1080/14693062.2006.9685587.
17. Zachmann, Georg and Christian von Hirschhausen (2008). "First evidence of asymmetric cost pass-through of EU emissions allowances: Examining wholesale electricity prices in Germany." Economics Letters 99(3): 465-469. http://dx.doi.org/10.1016/j.econlet.2007.09.024.