The Distribution of European Union Allowances (EUAs) : Windfall Profits, Free Allocation and Auctions

The first half of the paper provides a brief overview of the European Union’s Emission Trading System (EU ETS), and discusses how emission allowances have been allocated during the first two phases of the trading scheme. I then discuss the effects of auctioning off more emission allowances during Phase III of the EU ETS. I conclude that such a change would reduce the windfall profits of the initial allowance holders, and provide additional revenues that participating governments could use to support a variety of policies, some of which I discuss

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Year of publication:	2010
Authors:	Hlavac, Marek
Publisher:	[S.l.] : SSRN
Subject:	EU-Staaten \| EU countries \| Marktlagengewinn \| Windfall gains \| Auktion \| Auction \| Auktionstheorie \| Auction theory \| Emissionshandel \| Emissions trading \| Allokation \| Allocation

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