The EU Emissions Trading Scheme (EU ETS) has seen a huge increase in carbon prices, jumping from 5 to over 90 euros per ton of CO2 between 2017 and 2021. This rise may be due to a mechanism introduced alongside the Market Stability Reserve in 2018. By looking at realistic scenarios, the researchers found that this mechanism can lead to significant allowances being canceled, mainly influenced by how much emissions are reduced over time. If emissions decrease less rapidly, it could mean even higher prices for ETS. This has implications for the EU ETS revisions, as concerns about prices being too low could shift to worries about them being too high.