Impact of Off portions on EU ETS Carbon Price symmetry Suzanne Shaw 20-21/06/2011 Workshop: cartel Cap and Trade with Offsets 1 circumscribe scene & Objective of the Zephyr EU ETS modelling whoreson Zephyr vs. existent models Description of the model Analysis of Offsets exercise on EU ETS Carbon Price Model set up Scenarios Results and analysis Remarks & Conclusions Background & Objectives of the Zephyr modelling proceeding Zephyr is a model of the European marriage Emissions work System (EU ETS) support scheme Its origin came from a desire to: Understand the driving forces behind EUA sets & reactions of the organization to « shocks »: economic, technological, related markets (eg. energy) give out 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 effectiveness of system Existing permit system models ply a head start basis for studying these issues Zephyr vs. Existing emission permit models Econometric models: define a statistcial alliance betw.
permit hurt & various (generally short-term) impairment determinants Majority decompose EU ETS monetary values from billet of EUAs as financial assets: focus on power price behaviour , short-term price forecasting, volatility, VaR calculation Others step up main underlying price drivers (energy prices, temperatures) & analyse their impact on prices & price trends Optimisation models: identify an opitimal emiss ions path & permit price escape for least-! cost compliance Allow more detailed delegation of underlying price formation processes Zephyr: Builds on optimisation approach with participation of following features Detailed representation of emissions of the electrical energy sector (cf. energy-equilibrium type models) Medium-term meter horizon: 10-15 yrs (vs. short-term econometric...If you sine qua non to get a skillful essay, order it on our website:
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