دانلود مقاله ISI انگلیسی شماره 57296
عنوان فارسی مقاله

بازار برق اتحادیه اروپا چگونه رقابتی است؟ یک ارزیابی از ETS فاز دوم

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
57296 2014 20 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
پس از پرداخت، فوراً می توانید مقاله را دانلود فرمایید.
عنوان انگلیسی
How competitive are EU electricity markets? An assessment of ETS Phase II
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Energy Policy, Volume 73, October 2014, Pages 278–297

کلمات کلیدی
قیمت های برق ؛ سیاست های رقابتی؛ نوسانات؛ زغال سنگ
پیش نمایش مقاله
پیش نمایش مقاله بازار برق اتحادیه اروپا چگونه رقابتی است؟ یک ارزیابی از ETS فاز دوم

چکیده انگلیسی

This paper studies the interactions between electricity and carbon allowance prices in the year-ahead energy markets of France, Germany, United Kingdom and the Nordic countries, during Phase II of the EU ETS. VAR and Granger-causality methods are used to analyze causal interfaces, whereas the volatility of electricity prices is studied with basic and asymmetric AR-GARCH models. Among the main results, the marginal rate at which carbon prices feed into electricity prices is shown to be ca. 135% in the EEX and Nord Pool markets, where electricity and carbon prices display bidirectional causality, and 109% in the UK. Therefore, generators in these markets internalized the cost of freely allotted emission allowances into their electricity prices considerably more than the proportionate increase in costs justified by effective carbon intensity. Moreover, electricity prices in France are found to Granger-cause the carbon price. This study also shows how European electricity prices are deeply linked to coal prices among other factors, both in terms of levels and volatility, regardless of the underlying fuel mix, and that coal was marginally more profitable than gas for electricity generation. EU policies aimed at increasing the carbon price are likely to be crucial in limiting the externalities involved in the transition to a low-carbon system.

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