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The European Emissions Trading System (EU ETS) is one of the EU’s flagship measures in the battle against climate change.The principle is simple by putting a price on carbon emissions and introducing scarcy into the market,the system gives large-scale emitters an incentive to lower their emissions. But carbon has traded at prices below predicted levels for the past year,prompting the question:is the system still effective? 1.INTRODUCTION The price of allowances in the EU ETS has declinrd substantially since July 2008. For most of 2008, carbon traded at around 25 euro a tonne, but the prince plummeted in February this year,bottoming out at 8 euro a tonne. By mid-March it had recovered to 12 euro and a gradual rise continued as the summer approached,climbing to 14 euro in July. The environmental outcome of the EU ETS is defined by its overall cap, and is not related to prices on the carbon market. Fig.1Havy carbon emission plant in EU. 2. THE LOW PRICE Analysts concluded that the fall in value came about as companies sold what they considered to be surplus, allowances.Le allowances they would not need for compliance with the EU ETS. ANNALS of the ORADEA UNIVERSITY. Fascicle of Management and Technological Engineering, Volume IX (XIX), 2010, NR3

CHEAP CARBON IN THE EU ETS AND GEENING IN ECONOMY