AVRUPA BİRLİĞİ EMİSYON TİCARETİ PROGRAMI: BİRİNCİ VE İKİNCİ UYGULAMA DÖNEMİNDE CO2 FİYATI GÖSTERGELERİ

One of the main objectives of the European Union Emission Trading Scheme (EU ETS) is to establish a market price level for allowances that represents the cost of pollution to the European CO2 emmiting installations, thereby the cost of pollution can be internalized by the installations. This study identifies the main price drivers of European Union Allowances valid for compliance under the EU ETS. The study focus on the EUA price changes on Phase I (2005-2007) of the EU ETS which may also be described as Pilot Periodand Phase II (2008-2012) that is still in the proces