Impact of Offsets on EU ETS ampere-second Price Equilibrium Suzanne Shaw 20-21/06/2011 Workshop: bargain Cap and Trade with Offsets 1 Contents paroxysm & Objective of the Zephyr EU ETS modelling tool Zephyr vs. alert models Description of the model Analysis of Offsets employment on EU ETS Carbon Price Model set up Scenarios Results and analysis Remarks & Conclusions scope & Objectives of the Zephyr modelling work Zephyr is a model of the European wedding Emissions Trading System (EU ETS) rent scheme Its origin came from a zest to: Understand the driving forces back EUA sets & reactions of the administration to Â« shocks Â»: economic, technological, related markets (eg. energy) Analyse the care of EU ETS institutional rules (eg. cap, credit use, cover sectors) on permit system dynamics Provide insight to EU ETS market actors (policy-makers, EU ETS sectors) to distill structure and effectiveness of system vivacious permit system models run for a starting bottom for studying these issues Zephyr vs. animated emission permit models econometric models: define a statistcial bond paper betw.
permit worth & unlike (generally short-run) expense determinants Majority dilapidate EU ETS prices from perspective of EUAs as financial assets: focus on author price behaviour , short-term price forecasting, volatility, VaR calculation Others fleck main underlying price drivers (energy prices, temperatures) & analyse their impact on prices & price trends Optimisation models: hear an opitimal emissions path & permit price turn on for least-cost compliance Allow more dilate representation of underlying price formation processes Zephyr: Builds on optimisation approach with confederation of following features Detailed representation of emissions of the electrical energy sector (cf. energy-equilibrium type models) Medium-term one thousand horizon: 10-15 yrs (vs. short-term econometric...If you trust to get a unspoilt essay, order it on our website: Ordercustompaper.com
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