Abstract
In 2005, the European Union (EU) introduced the Emissions Trading System (ETS) as a measure to reduce CO 2 emissions by the obligation to purchase allowances by greenhouse gas (GHG) emitters. For many years of the EU ETS operation prices of CO 2 allowances were relatively low and counted for less than €10/Mg; however, in 2018 they spiked up to €20/Mg - €25/Mg resulting in high prices of electrical energy. The paper analyses the main targets of the EU ETS and their impact on the power supply industry, emissions levels, electricity prices and the competitiveness of the European economies. It also discusses the measures undertaken in some European countries to reduce the impact of the EU ETS on the power industry and the economy. The conclusions drawn may be useful for authorities and policymakers representing countries with carbonbased power industries.
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