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The European Union Emissions Trading System (EU ETS), the world's first and largest cap-and-trade carbon market, is a cornerstone of EU climate policy. This study provides a comprehensive empirical analysis of the EU carbon market's…

Putting a price on carbon -- with taxes or developing carbon markets -- is a widely used policy measure to achieve the target of net-zero emissions by 2050. This paper tackles the issue of producing point, direction-of-change, and density…

Price-based demand response (PBDR) has recently been attributed great economic but also environmental potential. However, the determination of its short-term effects on carbon emissions requires the knowledge of marginal emission factors…

The European carbon market plays a pivotal role in the European Union's ambitious target of achieving carbon neutrality by 2050. Understanding the intricacies of factors influencing European Union Emission Trading System (EU ETS) market…

Climate and energy policy targets of the European Commission aim to make Europe the first climate-neutral continent by 2050. For low-carbon and net-neutral energy systems primarily based on variable renewable power generation, issues…

The European Union Emissions Trading System (EU ETS) is a key policy tool for reducing greenhouse gas emissions and advancing toward a net-zero economy. Under this scheme, tradeable carbon credits, European Union Allowances (EUAs), are…

Carbon pricing has become a central pillar of modern climate policy, with carbon taxes and emissions trading systems (ETS) serving as the two dominant approaches. Although economic theory suggests these instruments are equivalent under…

We introduce a model for the evolution of emissions and the price of emissions allowances in a carbon market such as the European Union Emissions Trading System (EU ETS). The model accounts for multiple trading periods, or phases, with…

The global carbon market is fragmented and characterized by limited pricing transparency and empirical evidence, creating challenges for investors and policymakers in identifying carbon management opportunities. The European Union is among…

To enhance decarbonization efforts in electric power systems, we propose a novel electricity market clearing model that internalizes the allocation of emissions from generations to loads and allows for consideration of consumer-side carbon…

In 2021, the European Commission has adopted the Fit-for-55 policy package, legally binding European countries to reduce their CO2 emissions by 55% with respect to 1990, a first step to achieve carbon neutrality in 2050. In this context, it…

The European Union's Carbon Border Adjustment Mechanism (CBAM) creates a complex challenge for the interconnected European electricity market. Traditional static analyses often miss the cross-border spillover effects that are vital for…

Electricity accounts for 25% of global greenhouse gas emissions. Reducing emissions related to electricity consumption requires accurate measurements readily available to consumers, regulators and investors. In this case study, we propose a…

Low CO2 prices have prompted discussion about political measures aimed at increasing the cost of carbon dioxide emissions. These costs affect, inter alia, integrated district heating system operators (DHSO), often owned by municipalities…

We analyse the drivers of European Power Exchange (EPEX) wholesale electricity prices between 2012 and early 2022 using machine learning. The agnostic random forest approach that we use is able to reduce in-sample root mean square errors…

Consumption-based carbon emission measures aim to account for emissions associated with power transmission from distant regions, as opposed to measures which only consider local power generation. Outlining key differences between two…

We provide ex-post empirical analysis of the effects of climate policies on carbon dioxide emissions at the aggregate national level. Our results are based on a comprehensive database of 121 countries. As climate policies we examine carbon…

Accurate estimation of greenhouse gas (GHG) is essential to meet carbon neutrality targets, particularly through the calculation of direct CO2 emissions from electricity generation. This work reviews and compares emission factor-based…

Carbon prices are one of the most prominent methods to reduce global greenhouse gas emissions and have been adopted by several countries around the world. However, regionally different carbon prices can lead to carbon leakage. We…

An increasing share of consumers care about the carbon footprint of their electricity. This paper analyzes a method to integrate consumer carbon preferences in the electricity market-clearing by introducing consumer-based carbon costs and a…