کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
7400294 1481272 2015 11 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Time variation in European carbon pass-through rates in electricity futures prices
ترجمه فارسی عنوان
تنوع زمانی در نرخ عبور کربن اروپایی در قیمت های آتی برق
کلمات کلیدی
حقوق انتشار، نرخ گذار از طریق، فیلتر کالمن، قیمت آتی قیمت برق،
موضوعات مرتبط
مهندسی و علوم پایه مهندسی انرژی مهندسی انرژی و فناوری های برق
چکیده انگلیسی
The European Union Emissions Trading Scheme is a means to price emission allowances. Electricity market prices should reflect these market prices of emission allowances as they are a cost factor for power producers. The pass-through rate is the fraction of the emission allowance price that is passed through to electricity market prices. It is often measured and presented as an average or a fixed estimate over some time period. However, we expect that the pass-through rates should actually vary over time as electricity supply curves reflect the marginal costs of different producers that differ in emission intensity. We apply a Kalman Filter approach to observe pass-through rates in Germany and U.K. and find strong support for time varying instead of fixed pass-through rates. Although policy makers are interested in the impact of a policy on average, our results indicate that one needs to be careful with the time-frame over which pass-through rates are measured for policy evaluation, as an incorrect chosen evaluation period could cause an under- or overestimation of the pass-through rate. In addition, our model helps to provide policy makers with insight in the development of pass-through rates when market circumstances change with respect to power production.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Energy Policy - Volume 86, November 2015, Pages 239-249
نویسندگان
, ,