СИСТЕМАТА ЗА ТЪРГОВИЯ С ВЪГЛЕРОДНИ ЕМИСИИ КАТО НАТИСК ЗА ИЗПЪЛНЕНИЕ НА ЗЕЛЕНИТЕ ЦЕЛИ
THE EMISSIONS TRADING SYSTEM AS A PUSH TO GREEN GOALS IMPLEMENTATION

Author(s): Petko Truhchev
Subject(s): Economy, Supranational / Global Economy, Energy and Environmental Studies, Financial Markets
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: carbon emissions; EU; energy transition; COVID-19; economic recovery
Summary/Abstract: This survey focuses on the energy transition through the EU Emissions Trading System. The short-term impact of the COVID-19 crisis on the exchange-traded market of emission allowances and their shock price rise during the recovery process show an upward price trend that the pandemic slows down for a short period of time. The post-COVID economic recovery acts as an accelerator for the increase in the price of emissions allowances, due to the changed market conditions – a consequence of the pandemic. A thesis for the marginal price rise of the traded carbon allowances has been formulated through the interpretative method of factor analysis. The main conclusion is that their price will increase until renewable energy fully meets energy demand, and high emission energy sources drop out of the market once their carbon emissions marginal cost exceeds the cost of their production.

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