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Home > Journal

Eurovision? The EU Emissions Trading Scheme - Implications for Australia

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S. Lucy
Lucy, Sean

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 ...

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Suggested Citation

S. Lucy; "Eurovision? The EU Emissions Trading Scheme - Implications for Australia"
OGEL 2 (2004), www.ogel.org

URL: www.ogel.org/article.asp?key=1239

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