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Abstract

The article has presented the assumptions underlying the organization of emissions trading of greenhouse gases with a particular emphasis on CO2 emission allowances. Through the analysis of the literature, international activities were undertaken aimed at reducing greenhouse gas emissions into the atmosphere, starting from the First World Climate Conference organized in 1979. The origins and guidelines of the Kyoto Protocol were also given considerable attention. In addition to the description of the key assumptions of the Protocol and its main components, the characteristics of international trade in Kyoto units were also included. The mechanisms involved in international trade and the types of units traded in a detailed manner are described. In the next part of the article, emission trading systems operating in the world are characterized. In the second part of the paper special attention was paid to the conditionings of the European market, i.e. European Emissions Trading System – EU ETS. Historical events were presented that gave rise to the creation of the EU ETS. In the next steps, the types of units that are tradable were described. Furthermore, the trade commodity exchanges on which trade is conducted, the key factors determining the price of individual allowances are also indicated. In the last part of the article, relatively recent issues – the IED Directive and the BAT conclusions have been pointed out. Referring to the applicable regulations, the impact of their implementation on the situation of entities obliged to limit greenhouse gas emissions was analyzed. In the final phase, an attempt was made to assess the impact of IED and BAT to electricity prices.
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Abstract

W artykule przedstawiono zarys funkcjonowania oraz ewolucję unijnego systemu handlu uprawnieniami do emisji gazów cieplarnianych (EU ETS – European Union Emissions Trading System). Od 2005 r. jest on podstawowym instrumentem polityki energetyczno-klimatycznej Unii Europejskiej. Zaprezentowano wniosek ustawodawczy Komisji Europejskiej z 15 lipca 2015 r. w sprawie zmiany dyrektywy o systemie handlu uprawnieniami do emisji oraz proces jego legislacji. Zgodnie z wnioskiem wytyczne Rady Europejskiej co do roli EU ETS w osiąganiu założeń dotyczących ograniczania emisji gazów cieplarnianych do 2030 r. miałyby stać się wiążące. Proponowane zmiany miałyby także sprzyjać innowacjom i wykorzystaniu technologii niskoemisyjnych, dzięki czemu powstałyby nowe możliwości w zakresie zatrudnienia i wzrostu gospodarczego. Jednocześnie utrzymane miałyby zostać niezbędne środki chroniące konkurencyjność przemysłu w Europie. Omówiono istotne poprawki wprowadzone do wniosku przez komisje Parlamentu Europejskiego: Komisję Przemysłu, Badań Naukowych i Energii (ITRE – Committee on Industry, Research and Energy) oraz Komisję Ochrony Środowiska Naturalnego, Zdrowia Publicznego i Bezpieczeństwa Żywności (ENVI – Committee on the Environment, Public Health and Food Safety) oraz polskie priorytety negocjacyjne. Polska stoi na stanowisku, że należy powrócić do ustaleń podjętych przez Radę Europejską 23 i 24 października 2014 r. Zapisy konkluzji dają wyraźne pole do działania państwom – beneficjentom i to bezwzględnie musi zostać zachowane. Nie można w jakikolwiek sposób podważać ich kompetencji w zakresie wyboru wykorzystywanej struktury paliwowej, stawiając niektóre technologie w gorszej pozycji poprzez manipulacje kryteriami wyboru. Poddano analizie potencjalny wpływ zmian w dyrektywie o EU ETS na sytuację gospodarczą i społeczną Polski po 2020 roku. Sytuację państwa polskiego ukazano na tle całej Wspólnoty. Podkreślono, że coraz częściej polityka klimatyczno-energetyczna Unii Europejskiej postrzegana jest w kategoriach szans, a nie zagrożeń.
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Abstract

The paper presents the impact of the reformed EU ETS (Emission Trading Scheme – ETS in the European Union) on the currently operating market for trading in CO2 emission allowances. The new Directive introduced a number of changes aimed at tightening the climate policy, which the Polish energy sector based mainly on hard coal may mean an increase in the costs of electricity production, and thus an increase in the cost of the entire economy. The main goal of the changes is to achieve one of the objectives the European Union has set for itself, i.e. the reduction of CO2 emissions by 40% until the year 2030. These assumptions are the result of joint arrangements of the EU countries under the Paris Agreement on climate change adopted in 2015. The Directive introduces a new market stability reserve mechanism (MSR) which, according to its assumptions, is designed to ensure a demand and supply balance of the ETS. Bearing the balance in mind, it means the reduction of excess allowances, which, although their number is decreasing, it is decreasing to slowly according to EU legislators, still oscillating around 2 billion EUA. The paper also draws attention to the rigorous assumptions adopted in the new Directive, aimed at increasing the price of CO2, that is the costs in electricity production. Due to manually-controlled prices, are we doomed to high CO2 prices and therefore the prices of electricity? What are its estimated maximum levels? Will the new assumptions encourage the Member States to switch to lowcarbon technologies? Can they weaken the economies of countries that are currently based mainly on coal energy sources, and strengthen countries where green energy is developed?
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