Insight
Agreement reached on EU emissions market reform
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Report summary
On 5 May 2015, the European Council and Parliament reached agreement on the introduction of a Market Stability Reserve (MSR) measure to the EU Emissions Trading Scheme (ETS) from 2019. The introduction of the MSR represents a substantial reinforcement of the ETS and will drive a rebalancing of the carbon market's supply-demand balance. The cost of European emissions is likely to increase gradually in response to the MSR and high cost carbon will be a feature of the market in the long-term.
Table of contents
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Progress on EU emissions market reform
- Rebalancing the EU emissions market
- Europe finds common ground on reserve arrangements
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The MSR will support higher emissions prices
- ETS allowance (EUA) balance – with and without the market stability reverse
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Higher emissions costs change the economics of power generation
- Coal-gas parity costs in power – coal price cases (US$/t)
- A long-term outlook of higher carbon costs makes investment in existing coal more difficult
- Conclusions
Tables and charts
This report includes 3 images and tables including:
- Agreement reached on EU emissions market reform: Image 1
- ETS (EUA) price forecast – comparing the H2 2014 outlook and MSR 2019 case
- Agreement reached on EU emissions market reform: Image 3
What's included
This report contains:
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