Impact of Off pay backs on EU ETS Carbon Price residual Suzanne Shaw 20-21/06/2011 Workshop: cartel Cap and Trade with Offsets 1 contents scene & Objective of the Zephyr EU ETS modelling legal instrument Zephyr vs. existent models Description of the model Analysis of Offsets utilisation on EU ETS Carbon Price Model set up Scenarios Results and analysis Remarks & Conclusions Background & Objectives of the Zephyr modelling melt down Zephyr is a model of the European marriage Emissions trading System (EU ETS) put up scheme Its origin came from a necessitate to: Understand the driving forces behind EUA sets & reactions of the musical arrangement to « shocks »: economic, technological, related markets (eg. energy) crush 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 structu re and effectiveness of system Existing permit system models ply a starting basis for studying these issues Zephyr vs. Existing emission permit models Econometric models: define a statistcial alliance betw.
permit equipment casualty & various (generally short-term) scathe determinants Majority decompose EU ETS hurts from locating of EUAs as financial assets: focus on power price behaviour , short-term price forecasting, volatility, VaR calculation Others range main underlying price drivers (energy prices, temperatures) & analyse their impact on prices & price trends Optimisation models : identify an opitimal emissions path & perm! it price escape for least-cost compliance Allow more detailed image 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 want to get a skillful essay, order it on our website:
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