Type: Technical Report
Price determinants of the European carbon market and interactions with energy markets
Technical Report, Umwelt Bundesamt, Climate Change, 2012/11
SCHUMACHER, Katja, CLUDIUS, Johanna, MATTHES, Felix, DIEKMANN, Jochen, ZAKLAN, Aleksandar, SCHLEICH, Joachim, Price determinants of the European carbon market and interactions with energy markets, Umwelt Bundesamt, Climate Change, 2012/11 - https://hdl.handle.net/1814/39891
Retrieved from Cadmus, EUI Research Repository
This report explores the determinants of short run price movements in the carbon market and their interaction with energy markets, in particular with the electricity market. Focusing on Phase 2 of the EU ETS we conduct econometric time series analysis based on continental EU and UK market data. Our findings suggest that market fundamentals have a dominant effect on the EUA price, but that non-fundamental factors may also play a role. We further found that the electricity price has a significant positive impact on the carbon price in the short run.
Cadmus permanent link: https://hdl.handle.net/1814/39891
External link: http://www.uba.de/uba-info-medien-e/4300.html
Series/Number: Umwelt Bundesamt; Climate Change; 2012/11
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