ASSESSING INITIAL CONDITIONS AND ETS OUTCOMES IN A FOSSIL-FUEL DEPENDENT ECONOMY
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Date
2022
Authors
Howie, Peter
Atakhanova, Zauresh
Journal Title
Journal ISSN
Volume Title
Publisher
Energy Strategy Reviews
Abstract
We analyze the energy market and ETS outcomes in Kazakhstan, a major fossil-fuel exporter. The energy market
was characterized by the presence of large state-owned enterprises, prevalence of fossil fuel subsidies, and
dominance of coal-fired generation. Despite the ETS, Kazakhstan’s CO2 emissions and CO2 emissions intensity of
its power sector continued to grow. Power sector investment and prices declined while CO2 emissions intensity
of GDP reversed its downward trend. To increase ETS effectiveness it is necessary to prioritize stakeholder
engagement, address deficiencies in carbon allowance allocation and trading, and enhance the carbon cost pass through mechanism. Finally, formulating and implementing a comprehensive low-carbon transition strategy
should improve ETS outcomes.
Description
Keywords
Type of access: Open Access, Climate policy, Cap-and-trade, Fossil-fuel subsidies, Carbon price
Citation
Howie, P., & Atakhanova, Z. (2022). Assessing initial conditions and ETS outcomes in a fossil-fuel dependent economy. Energy Strategy Reviews, 40, 100818. https://doi.org/10.1016/j.esr.2022.100818