Pantelis Capros, Nikolaos Tasios, Alessia De Vita, Leonidas Mantzos, Leonidas Parousos, (2012), "EU energy sector perspectives for 2030 beyond the 20-20-20 objective", Review of Business and Economic Literature, Vol. 57 Issue 2
The paper analyses the energy system and cost implications of moving beyond the 20% greenhouse gas emission target agreed in the Climate and Energy package 2008. The postulate of the paper is that due to the economic crisis the cost of going beyond the 20% target to a 25% or 30% domestic target has decreased significantly and that this may be seen as an opportunity to increase the 20% target for 2020 and adopt a 40% emission reduction target for 2030 which will have beneficial effects avoiding a strong reduction in the prices of ETS allowances in the short-term (2020) and setting the EU on a path to achieve the 2050 climate objectives in the long-term. The energy system costs above the costs for implementing the Climate and Energy package, from a macro-economic perspective, therefore excluding auction payments, are found to be below 0.1% for both scenarios in the cumulative time period 2010-2030.
For more information you can download the following article:
"EU energy sector perspectives for 2030 beyond the 20-20-20 objective"
