AVRUPA BİRLİĞİ EMİSYON TİCARETİ PROGRAMI VE CO2 FİYATINI BELİRLEYEN FAKTÖRLER

Abstract

Avrupa Birliği Emisyon Ticareti Programı (AB ETS) ile Birlik çapında CO2 ruhsatları için piyasa yaratılması hedeflenmektedir. Ruhsat piyasasında oluşan denge fiyatı, kapsam içinde bulunan işletmeler için CO2 emisyonunda bulunmanın parasal maliyetini yansıtır. Böylece, yaratılan kirliliğin maliyeti işletmeler tarafından içselleştirilmesi hedeflenmektedir. Bu çalışma, Emisyon Ticareti
Programı kapsamında dağıtılan ruhsatların fiyatını belirleyen faktörleri araştırmaktadır. Çalışmada, “Pilot Dönem” olarak da adlandırılan ve 2005-2007 yıllarını kapsayan ilk uygulama dönemi üzerinde yoğunlaşılarak bu dönemdeki fiyat değişimleri açıklanmaya çalışılmaktadır. 

Keywords

• Avrupa Birliği
• Emisyon Ticareti
• CO2 Fiyatı
• İklim

AVRUPA BİRLİĞİ EMİSYON TİCARETİ PROGRAMI VE CO2 FİYATINI BELİRLEYEN FAKTÖRLER

Abstract

One of the main objectives of the European Union Emission Trading Scheme (EU ETS) is to establish a market price level for allowances that represents the cost of pollution to the European CO2 emmiting installations, thereby the cost of pollution can be internalized by the installations. This study identifies the main price drivers of European Union Allowances valid for compliance under the EU ETS. The study focus on the EUA price changes on Phase I (2005-2007) of the EU ETS which may also be described as “Pilot Period”.

Keywords

• European Union
• Emission Trading Scheme
• CO2 Price
• Climate Change Policy
• Kyoto Protocol

References

1. ALBEROLA, Emilie, Julien CHEVALLIER and Benoît CHEZE; (2007), “European Carbon Prices Fundamentals in 2005-2007: The Effects of Energy Markets, Temperatures and Sectorial Production”, EconomiX Working Paper No. 2007-33, http://ssrn.com/abstract=1080161 , Erişim Tarihi: 15.11.2009
2. ALBEROLA, Emilie, Julien CHEVALLIER and Benoît CHEZE; (2008a), “Price Drivers and Structural Breaks in European Carbon Prices 2005 – 2007”, Energy Policy, 36(2), pp. 787- 797.
3. ALBEROLA, Emilie, Julien CHEVALLIER and Benoît CHEZE; (2008b), “The EU Emissions Trading Scheme: The Effects of Industrial Production and CO2 Emissions on Carbon Prices”, Economié Internationale, 116(4), pp. 127-146
4. ALBEROLA, Emilie, Julien CHEVALLIER and Benoît CHEZE; (2009), “Emissions Compliances and Carbon Prices under the EU ETS: A Country Spesific Analysis of Industrial Sectors”, Journal of Policy Modelling, 31, pp. 446-462.
5. ALBEROLA, Emilie and Julien CHEVALLIER; (2009), “European Carbon Prices and Banking Restrictions: Evidence from Phase I (2005- 2007)”, The Energy Journal, 30(3), pp. 107- 136.
6. BARDE, J. P. – S. SMITH; “Do Economic Instruments Help the Environment?”, Observer, No: 204, 1997. The OECD
7. BATTALER, Maria Manaset, Angel PARDO and Enric VALOR; (2007), “CO2 Prices, Energy and Weather”, The Energy Journal, 28(3), pp. 73-92.
8. BENZ, Eva and Stefan TRUCK; (2009), “Modeling the Price Dynamics of CO2 Emission Allowances”, Energy Economics, 31, pp. 4-15.

9. BUNN, Derek and Carlo FEZZI; (2007), “Interaction of European Carbon Trading and Energy Prices”, Fondazione Eni Enrico Mattei Working Paper, No: 63.2007, İnternet Adresi: http://ssrn.com/abstract=993791 , Erişim Tarihi: 15.11.2009
10. ELLERMAN, A. Denny; Paul L. JOSKOW; Richard SCHMALENSEE; Jose Perez MONTERO and Elizabeth BAILEY; (2000) Markets for Clean Air: The US Acid Rain Program, 2nd ed., Cambridge University Press, United Kingdom, 352s.
11. ELLERMAN, A. Denny and Jose Perez MONTERO; (2007), “The Efficiency and Robustness of Allowance Banking in the U.S. Acid Rain Program”, Energy Journal, 28(4), pp. 205- 233.
12. ELLERMAN, A. Denny and Barbara K. BUCHNER; (2008), “Over-Allocation or Abatement? A Preliminary Analysis of EU ETS Based on the 2005-06 Emissions Data”, Environmental and Resource Economics, 41, pp.267-287.
13. HINTERMANN, Beat; (2008), “Price Drivers and CO2 Bubbles in the EU ETS”, Presented at Conference on Sustainable Resource Use and Economic Dynamics (SURED) 2008, İnternet Adresi: http://www.cer.ethz.ch/sured_2008/programme/ SURED-08_Hintermann.pdf, Erişim Tarihi: 15.11.2009
14. HOTELLING, Harold; (1931), “The Economics of Exhaustable Resources”, Journal of Political Economy, 39, pp. 137-175.
15. KANEN, Joost; (2006); Carbon Trading and Pricing, Environmental Finance Publications, United Kingdom, 120s.
16. LEIBY, Paul N. and Jonathan RUBIN; (2001), “Intertemporal Permit Trading for the Control of Greenhouse Gas Emissions”, Environmental and Resource Economics, 19, pp. 229-256.
17. Point Carbon; (2008), “Carbon 2008: Post 2012 is now”, http://www.pointcarbon.com/research/carbonma rketresearch/analyst/1.912721 , Erişim Tarihi: 15.11.2009.
18. SCHLEICH, Joachim, Karl-Martin EHRHART, Christian HOPPE and Stefan SEIFERT; (2006), “Banning Banking in EU Emission Trading?”, Energy Policy, 34, pp.112-120.
19. SPRINGER, Urs; (2003), “The Market for Tradable GHG Permits under the Kyoto Protocol: A Survey of Model Studies”, Energy Economics, 25, pp.527-551.