Fortis: during Summer emissions trading led to less CO2 emissions

At the Sparks & Flames Conference in Amsterdam Walhain from Fortis showed that during Summer the emissions trading system has led to less CO2 emissions. He showed that during the Summer gas prices tend to be lower and that made it beneficial - for CO2 cost reasons - to use more gas for power generation, than without that system.
For such a fuel switch in Winter he believed a CO2 price of 100€ would be needed. He said weather in general is a dominant factor: if the temperature in Germany is 2 degrees higher, 70.000 ton CO2 less is traded.

Walhain said that liquidity on the eu ETS is sufficient. In the first phase (2005-2007) the power sector seems 400 Mton CO2 short. To get in compliance the traders need to trade 0,7 Mton per day. The daily trade is much higher; more than 40% more is traded on the market.