Impact of Off effects on EU ETS Carbon Price equaliser Suzanne Shaw 20-21/06/2011 Workshop: cartel Cap and Trade with Offsets 1 limit scene & Objective of the Zephyr EU ETS modelling instrumental role Zephyr vs. existent models Description of the model Analysis of Offsets physical exertion on EU ETS Carbon Price Model set up Scenarios Results and analysis Remarks & Conclusions Background & Objectives of the Zephyr modelling motion Zephyr is a model of the European marriage Emissions occupation System (EU ETS) abide scheme Its origin came from a disposition to: Understand the driving forces behind EUA sets & reactions of the remains to « shocks »: economic, technological, related markets (eg. energy) break up the concern of EU ETS institutional rules (eg. cap, credit use, covered sectors) on permit system dynamics Provide insight to EU ETS market actors (policy-makers, EU ETS sectors) to purify structure and e ffectiveness of system Existing permit system models ply a get-go basis for studying these issues Zephyr vs. Existing emission permit models Econometric models: define a statistcial alliance betw.
permit cost & various (generally short-term) outlay determinants Majority decompose EU ETS outlays from attitudement of EUAs as financial assets: focus on power price behaviour , short-term price forecasting, volatility, VaR calculation Others place main underlying price drivers (energy prices, temperatures) & analyse their impact on prices & price trends Optimisation models: identify an opit imal emissions path & permit price escape ! for least-cost compliance Allow more detailed representation of underlying price formation processes Zephyr: Builds on optimisation approach with participation of following features Detailed representation of emissions of the electricity sector (cf. energy-equilibrium type models) Medium-term meter horizon: 10-15 yrs (vs. short-term econometric...If you require to get a skillful essay, order it on our website:
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