Eurovision? The EU Emissions Trading Scheme - Implications for Australia
Article from: OGEL 2 (2004), in Renewable Energy
Summary
The European Union's Emissions Trading Scheme (EU ETS) is set to commence on 1 January 2005. It prohibits carbon-dioxide (CO2) emissions from power plants and energy intensive manufacturing facilities without an emission allowance between 2005-2007. The number of allowances allocated will be restricted to ensure that each EU member state achieves agreed emission reduction targets. Emissions without an allowance will attract a penalty of €40/tonne of CO2. Allowances will be tradeable between facilities, ensuring that the emission reduction target will be achieved at least cost. For ...