@TECHREPORT{oei_615, ota_publtyp = {Bericht}, oei_publtyp = {Studie}, title = {Price Determinants of the European Carbon Market and Interactions with Energy Markets}, author = {Schumacher, K. and Cludius, J. and Matthes, F. and Diekmann, J. and Zaklan, A.}, year = {2012}, language = {en}, url = {oekodoc/1502/index.html [via Redirect]}, abstract = {This report explores the determinants of short run price movements in the carbon market and their interaction with energy markets, in particular with the electricity market. Focusing on Phase 2 of the EU ETS we conduct econometric time series analysis based on continental EU and UK market data. Our findings suggest that market fundamentals have a dominant effect on the EUA price, but that non-fundamental factors may also play a role. We further found that the electricity price has a significant positive impact on the carbon price in the short run.}, keywords = {Energie und Klimaschutz} }