Efforts to shore up the EU emissions trading system (ETS) have failed to inspire long-term confidence and the scheme still requires wholesale structural reform, industry sources have told Gas Matters Today. European power industry body Eurlectric welcomed the proposed market stability reserve (MSR) in 2019 as an “important first step” to restoring faith in the ETS, but warned that emissions prices would remain depressed until the surplus of CO2 allowances in the market was resolved.
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