'This book provides an essential guide to the challenges facing the power sector, but is equally enlightening to other industrial emitters, policy-makers and non-governmental organizations.' Charles Nicholson, Group Senior Advisor, BP The electricity industry is one of the main contributors of carbon to the atmosphere. Reducing these emissions is critical to achieving international targets and mitigating climate change. Economic instruments, including emissions trading, taxes and voluntary agreements, will be crucial. However, across Europe there are widely different electricity systems and policies will have different effects. This book describes the characteristics of the main European electricity regimes, defining the range of instruments available and assessing the potential of each in each regime and for Europe as a whole.

List of Figures, Tables and Boxes * Foreword by Charles Nicholson * Preface * Acknowledgements * About the Authors * Acronyms and Abbreviations * Executive Summary * Part I: Climate Change and Economic Policy Instruments - Climate Change and the Power Industry * The Kyoto Protocol Mechanisms * The Policy Framework in Europe * Economic Instruments for European Electricity * Part II: Case Studies of European Sectors - Introduction * Denmark * France * Germany * Italy * The Netherlands * United Kingdom * Part III: Interactions, Implications and Conclusions - National Climate Change in Europe * Reconciling Climate Change and the Market * Summary and Conclusions * Appendix 1: Key Articles of the Framework Convention and Kyoto Protocol * Appendix 2: Some Issues from the Bonn Agreement (decision 5/CP.6)