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Reforming the EU Emissions Trading System: An Alternative to the Market Stability Reserve

Author

Listed:
  • Mark A. Andor

    (RWI)

  • Manuel Frondel

    (RWI)

  • Stephan Sommer

    (RWI)

Abstract

Prices for emission allowances in Europe’s Emissions Trading System (ETS) have remained low for many years. This 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 fl oor for certifi cates and a market stability reserve, which is a rule-based mechanism for steering the market volume of allowances and is the preferred approach of the European Commission. In this article, we instead recommend retaining the ETS and suggest correcting past mistakes by a single intervention.

Suggested Citation

  • Mark A. Andor & Manuel Frondel & Stephan Sommer, 2016. "Reforming the EU Emissions Trading System: An Alternative to the Market Stability Reserve," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 51(2), pages 87-93, March.
    • Handle: RePEc:spr:intere:v:51:y:2016:i:2:d:10.1007_s10272-016-0582-2
    DOI: 10.1007/s10272-016-0582-2
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    Cited by:

    1. Marco Quatrosi, 2024. "Emission trading in a high dimensional context: to what extent are carbon markets integrated with the broader system?," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 41(3), pages 793-814, October.
    2. Carlén, Björn & Dahlqvist, Anna & Mandell, Svante & Marklund, Pelle, 2019. "EU ETS emissions under the cancellation mechanism - Effects of national measures," Energy Policy, Elsevier, vol. 129(C), pages 816-825.

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