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Open AccessArticle

Market Analysis during the First Year of Korea Emission Trading Scheme

by Jaeseok Lee 1 and Jongmin Yu 2,*
1
Energy Institute, Seoul Energy Corporation, 20, Mokdongseo-ro, Yangcheon-gu, Seoul 07978, Korea
2
Department of Economics, Hongik University 94, Wausan-ro, Mapogu, Seoul 121-791, Korea
*
Author to whom correspondence should be addressed.
Energies 2017, 10(12), 1974; https://doi.org/10.3390/en10121974
Received: 19 October 2017 / Revised: 17 November 2017 / Accepted: 23 November 2017 / Published: 28 November 2017
(This article belongs to the Special Issue Lessons from the Evaluation of Existing Emission Trading Schemes)
To derive the supply and demand issues during the first phase of the Korea Emission Trading Scheme (KETS), we investigated the excess or shortage, and the carry-over inflow of carbon emission permits for all of the domestic industries and major corporations. In particular, this study explored the supply and future prospects of offset credits, as well as the allocated permits, by forecasting the inflows of offset credits using the amount of certified reduction in domestic boundaries and overseas sources. We observed both the supply and demand of permits and changes in carbon dioxide (CO2) emission levels during the first phase (2015–2017) by comparing the estimated emission levels and the total permit supply. The results showed that permits were either in surplus or insufficient, depending on the sub-sector, and that a surplus in the supply of permits would occur if companies do not carry over more than 70 million tons of permits to the next period. View Full-Text
Keywords: Korea Emissions Trading Scheme (KETS); offset credits; allocated allowances; supply-and-demand analysis Korea Emissions Trading Scheme (KETS); offset credits; allocated allowances; supply-and-demand analysis
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Lee, J.; Yu, J. Market Analysis during the First Year of Korea Emission Trading Scheme. Energies 2017, 10, 1974.

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