Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore address emissions from electricity generation. The de-sign of an ETS and the structure and regulation of the electricity sector have a large impact on the environmental effectiveness and the quality of the carbon price signal. This report analyses the interaction of carbon and electricity markets in two pilot systems in China: Hubei and Shenzhen. The two pilot systems have adopted very different design features due to the specific local circum-stances. Due to strong government regulation of China’s electricity sector, carbon pricing has played a very limited role in driving low carbon investments. A more market-oriented electricity trading market and deregulation of electricity pricing for certain end-users seems necessary for an effective ETS in China. However, this will depend on the political acceptability of electricity price increases resulting from a strong carbon price signal. This case study is part of the project “Influence of market structures and market regulation on the carbon market” that aims to identify the impact of market structures and regulations on carbon markets and to investigate the interdependencies between carbon and energy markets in Europe, California, China, South Korea, and Mexico. Veröffentlicht in Climate Change | 37/2021.
Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore address emissions from electricity generation. The de-sign of an ETS and the structure and regulation of the electricity sector have a large impact on the environmental effectiveness and the quality of the carbon price signal. This report analyses the potential interaction of carbon and electricity markets in Mexico. The Mexican ETS started as pilot scheme in 2020 with the aim to gather experience in the implementation of an ETS without having impacts on the economy. Due to this, no carbon price has been established yet and the political uncertainty about future climate and energy policy is high. While it is unlikely that the trading sys-tem will have a noticeable impact in the short term on demand, supply, or investments, a carbon price has the potential to spur renewable energy growth under an appropriate electricity market regulation. The potential for short-term fuel switching is low, as natural gas is already the cheapest fossil fuel in the merit order. This case study is part of the project “Influence of market structures and market regulation on the carbon market” that aims to identify the impact of market structures and regulations on carbon markets and to investigate the interdependencies between carbon and energy markets in Europe, California, China, South Korea, and Mexico. Veröffentlicht in Climate Change.
Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore address emissions from electricity generation. The design of an ETS and the structure and regulation of the electricity sector have a large impact on the environmental effectiveness and the quality of the carbon price signal. This report analyses the interaction of carbon and electricity markets in Poland and Germany. In a largely liberalised market, especially the capacity mix, the age of the fleet and the design of complementary policies determine the impact of the ETS on abatement in the power sector, which is therefore different in both countries. This case study is part of the project “Influence of market structures and market regulation on the carbon market” that aims to identify the impact of market structures and regulations on carbon markets and to investigate the interdependencies between carbon and energy markets in Europe, California, China, South Korea, and Mexico. Veröffentlicht in Climate Change | 48/2020.
Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore address emissions from electricity generation. The de-sign of an ETS and the structure and regulation of the electricity sector have a large impact on the environmental effectiveness and the quality of the carbon price signal. This report analyses the interaction of carbon and electricity markets in the Republic of Korea. Since its launch in 2015, the K-ETS has evolved into one of the country’s principle mechanisms for achieving its emission reduction target. Regulatory reform in the carbon and the electricity market has a large potential for acceler-ating emission reductions through the ETS and could set an example for countries considering in-troducing carbon pricing policies to advance decarbonisation in regulated electricity sectors. This case study is part of the project “Influence of market structures and market regulation on the carbon market” that aims to identify the impact of market structures and regulations on carbon markets and to investigate the interdependencies between carbon and energy markets in Europe, California, China, South Korea, and Mexico. Veröffentlicht in Climate Change | 36/2021.
Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore capture emissions from electricity generation. The design of an ETS and the structure and regulation of the electricity sector have a major impact on the environmental effectiveness and quality of the carbon price signal. This project identified the impact of market structures and regulations on the carbon market and examined the interdependencies between carbon and electricity markets through 5 case studies in Europe (Germany/Poland), California, China (Hubei/Shenzhen), South Korea, and Mexico. Veröffentlicht in Climate Change | 06/2022.
The present study is a contribution to the linking discussion of emissions trading systems. Between 2012 and 2016, the comparability of monitoring, reporting and verification (MRV) of established emissions trading systems, carbon tax systems and pure monitoring systems was analysed, inter alia based on the California Cap-and-Trade Program, Target Management System / Korea ETS, Shanghai-ETS, Carbon Pricing Mechanism Australia and the European Emissions Trading System. The approaches formulated for evaluating MRV systems are based on the general reporting principles of transparency, consistency, comparability, completeness and accuracy in order to maintain the robustness and integrity of the data in a common market. Veröffentlicht in Climate Change | 18/2020.
Electricity generation is the largest source of greenhouse gas emissions in many countries. Most emissions trading systems (ETS) therefore address emissions from electricity generation. The de-sign of an ETS and the structure and regulation of the electricity sector have a large impact on the environmental effectiveness and the quality of the carbon price signal. This report analyses the interaction of carbon and electricity markets in California. The price in the Californian ETS is largely determined by the floor price. Its impact on the electricity sector is limited because of a monolithic capacity mix and stringent complementary policies. This case study is part of the project “Influence of market structures and market regulation on the carbon market” that aims to identify the impact of market structures and regulations on carbon markets and to investigate the interdependencies between carbon and energy markets in Europe, California, China, South Korea, and Mexico. Veröffentlicht in Climate Change | 49/2020.
This report assesses the role of emissions trading systems (ETS) in electricity sector decarbonization through analyses of carbon market designs and interactions with electricity market regulations, market structures and additional policies. It provides a synthesis of five case studies in EU, California, South Korea, China and Mexico. The authors investigate four carbon price quality criteria (volatility, reflection of marginal abatement cost, predictability, and environmental effectiveness) and three abatement channels (clean dispatch, low-carbon investment, and demand-side response). They find that ETSs are especially effective in capitalizing on short-term abatement opportunities when embedded within liberalized electricity markets (e.g. change of merit order or fuel switching). But careful design may enhance effectiveness in hybrid electricity markets where carbon cost pass through might initially be absent. Carbon markets may also send long-term signals on fuel choices and investment decisions; however, the strength of these signals will depend on ETS design and companion policies. Veröffentlicht in Climate Change | 38/2021.
Am 19. Mai 2015 brach eine unterirdische Ölpipeline der Betreiberfirma Plains All American Pipeline in Kalifornien nahe dem Refugio State Beach rund 35 Kilometer westlich von Santa Barbara. Der Betreiber konnt das Leck erst nach mehreren Stunden schließen. Es traten mehrere hunderttausende Liter Öl aus, davon gelangten ca. 80.000 Litern über einen Kanal direkt in den Pazifik. Es bildete sich ein 15 Kilometer breiter Ölteppich vor der Küste. Am 20. Mai 2015 wurden die Strände Refugio State Beach und El Capitán State Beach geschlossen und der Gouverneur von Bundesstaat Kalifornien rief den Notstand aus.
Die CO2 Konzentration in der Atmosphäre erreichte nach Angaben von US-Wissenschaftlern einen historischen Höchstwert. Messungen am 9. Mai 2013 wiesen CO2-Werte im Tagesmittel von über 400 ppm (parts per million) nach. Das teilte das Forschungszentrum Scripps Institution of Oceanography in San Diego im US-Bundesstaat Kalifornien mit. Seit 1958 messen Wissenschaftler die CO2-Konzentration in der Luft von der Station Mauna Loa auf Hawaii. Es ist die älteste Kohlendioxid-Messstation der Welt. Als die Untersuchungen dort begannen, lag der CO2-Wert noch bei 317 ppm.
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