ECONOMETRIC ANALYSIS OF INFLUENCING FACTORS OF EU EMISSION ALLOWANCES

The aim of this paper is to analyze factors which influence the European Union Allowances spot prices. This involves also the strength of the dependency. Factors which were explored were as follows, prices of oil, gas, coal representing the most important sources for heavy industry and then other emission allowances types (like CERs). The method which was used for the mentioned analysis is the linear regression analysis. The research confirmed that the strongest relationship can be found between EUAs and CERs. Prices of coal and gas have the less influence on European emission permits price and price of oil even did not show the significant effect.