6533b828fe1ef96bd1287972
RESEARCH PRODUCT
CO2 Prices, Energy and Weather
Angel PardoMaria Mansanet-batallerEnric Valorsubject
Economics and EconometricsFocus (computing)Natural resource economicsPrincipal (computer security)RationalityEuropean Union Emission Trading SchemeGeneral EnergyEconomyEconomicsMarket pricePrice levelEnvironmental impact assessmentKyoto ProtocolEnergy sourceIndustrial organizationEnergy (signal processing)description
One of the main objectives of the European Union Emission Trading Scheme is the establishment of a market price level for allowances that show to European CO 2 emitting installations the environmental impact of their polluting activities. The aim of this paper is to focus on the daily price changes during 2005 in an attempt to examine the underlying rationality of pricing behaviour. Specifically, we study the effect of those weather and non-weather variables that academic and market agents consider as the major determinants of the of CO 2 price levels. The results show that the energy sources are the principal factors in the determination of CO 2 price levels, and that only extreme temperatures influence them.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2007-07-01 | SSRN Electronic Journal |