• 1. INTRODUCTION
  • 2. IMPLEMENTATION OF THE EU-DIRECTIVE IN GERMANY
  • 3. PRICE FORMATION AND EMISSIONS REDUCTIONS IN EMISSIONSTRADING
  • 4. LICENSING AND TECHNOLOGY FRAMEWORK FOR POWER PLANTS
  • 4.1 Timeframe for planning and building
  • 4.2 Consequences of the response time and the development of the degree of efficiency
  • 4.3 Degree of efficiency in cases of newly built power stations
  • 5. ENVIRONMENTAL IMPACT OF THE TRANSFER-RULE
  • 5.1 Managerial decision on replacement investments in the absence of climate policyinstruments
  • 5.2 Managerial decision on replacement investments in the case of emissions tradingwithout the transfer-rule
  • 5.3 Managerial decision on replacement investments with both emissions tradingand transfer-rule
  • 5.4 Summary of the impacts on entity-level
  • 5.5 Environmental impact of clause 10 of the Allocation Act at a on national level
  • 6. COMPETITIVE EFFECTS OF THE TRANSFER-RULE
  • 6.1 Motivation and structure of the competition analysis
  • 6.2 Actual state of competition in the German electricity market
  • 6.3 Competitive Effects of the transfer-rule
  • 6.4 The transfer-rule as an unallowed state aid?
  • 7. CONCLUSIONS
  • REFERENCES