000			01865cam a2200325 4500500
005			20250121114121.0
041			_afre
042			_adc
100	1	0	_aSanin, Maria-Eugenia _eauthor
700	1	0	_a Sourisseau, Sylvain _eauthor
245	0	0	_aOver-Allocation Profits, Inefficiencies and Competition Issues: A Close-Up into the Interaction Between the EU ETS and the Steel Industry
260			_c2024.
500			_a69
520			_aSectors subject to international competition under the European Emission Trading Scheme (EU ETS) still benefit from free allocation of European allowances (EUAs). Herein we study one of those beneficiaries: the crude steel industry. Firstly, we find it is not really exposed to international. Moreover, we find that the market is concentrated and that the firm with most market power throughout 2005–2018 is the one receiving most of free EUAs capturing most of the over-allocation profits (34.87% in average). Finally, after performing a frontier analysis we find that the market leader is also the least efficient in producing crude steel and consequently the least efficient in terms of CO2 intensity. These findings, together with the fact that we do not observe a decrease in crude steel production, suggest the EU ETS has failed to provide incentives for decarbonization in this sector.
690			_acompetition
690			_aETS
690			_aemission trading
690			_aover-allocation profits
690			_aCO2
690			_asteel
690			_acompetition
690			_aETS
690			_aemission trading
690			_aCO
690			_aover-allocation profits
690			_a2
690			_asteel
786	0		_nRevue économique | 74 | 6 | 2024-02-05 | p. 1067-1097 | 0035-2764
856	4	1	_uhttps://shs.cairn.info/journal-revue-economique-2023-6-page-1067?lang=en&redirect-ssocas=7080
999			_c546508 _d546508