I wouldn't
draw any conclusions about fur market
pricing from the December auction reports (since there was a v
substantial number of missing buyers).
The first phase of the EU ETS — from 2005 to 2007 —
drew criticism for not achieving
substantial cuts in emissions, excessive allowance
price volatility and for resulting in windfall profits for some utility firms that received carbon allowances for free but were able to pass through their full cost to consumers in the form of higher electricity
prices.