Market behaviour and the to-trade-or-not-to-trade dilemma in 'Tradable White Certificate' schemes
This paper provides an empirical analysis of market behaviour under ‘Tradable White Certificate’ (TWC) schemes. It focuses on the entire set of ‘flexibilities’ granted to obliged parties to meet a mandatory energy-saving target cost-effectively, i.e. range eligible measures, eligible end-use sectors, banking provision, market engagement of non-obliged parties, and trading as such. We found that ma
