Over-Allocation or Abatement? A Preliminary Analysis of the EU ETS Based on the 2005–06 Emissions Data

@article{Ellerman2008OverAllocationOA,
  title={Over-Allocation or Abatement? A Preliminary Analysis of the EU ETS Based on the 2005–06 Emissions Data},
  author={A. Denny. Ellerman and Barbara K. Buchner},
  journal={Environmental and Resource Economics},
  year={2008},
  volume={41},
  pages={267-287}
}
This paper provides an initial analysis of the EU ETS based on the installation-level data for verified emissions and allowance allocations in the first 2 years of the first trading period. These data reveal that CO2 emissions were about 3% lower than the allocated allowances. The main objective of the paper is to shed light on the extent to which over-allocation and abatement have taken place in 2005 and 2006, when a significant CO2 price was observed. We propose a measure by which over… 
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