Begleitung und Evaluierung der Umsetzung von EU-Versteigerungsverfahren für die Handelsperiode 2013-2020 bzw. 2012-2020 im Luftverkehr aus ökonomischer Perspektive
In this report by Ecologic Institute, the authors analyze the conditions for accessing the main European trading centers for emission allowances. The authors examine possible interactions between the primary and secondary markets and question whether a relationship between the price developments on the primary and the secondary market exists. The comprehensive empirical survey also represents the acquisition channels of German plant operators in the EU Emissions Trading Scheme (EU-ETS). The report is available for download.
The first part of the report analyses "Conditions of Access to the Main EU Secondary Markets," comparing conditions of access to the most important European trading venues for emission allowances in London (ICE), Leipzig (EEX), and Paris (BlueNext). Thus, it develops a benchmark for direct access to the auction platforms of the primary market. The analysis in this section of the report is based on low-threshold access to the spot market (or access with the lowest transaction costs) of the three considered exchanges.
The second part of the report, “Strategic Analysis of the Interactions between Auctions and the Secondary Market in the European CO2 Emissions Trading System,” investigates potential interactions between the primary and secondary markets in emission allowances. The central question here is whether a relationship between the price developments in the primary and the secondary market can be identified.
The third part of the report examines purchase channels of German plant operators in the EU ETS. In the summer of 2013, a survey of all German installation operators collected information on purchase strategies in the second and third trading period. The survey also identified the strengths and weaknesses of the main purchasing channels, from the perspective of operators. The project thus provides a comprehensive empirical overview of the role of auctions in the European emissions trading system and gives new impetus for the further development of the auctions on the basis of the experience of the second trading period and the start of the third trading period.
The following report is part of the research project “Support and Evaluation of the Implementation of the EU-Auction-Process for the Trade Period of 2013-2020 and for the Period of 2012-2020 in the Aviation Sector from an Economic Perspective”.