The article discusses the EU Emissions Trading Scheme, exploring various aspects like price determinants, auctions, sectoral differentiation costs, carbon certificate distribution, and interactions with national energy policies. It emphasizes the choice between multiple or single auctions in emissions trading and the values and risks of expiring carbon credits. Businesses' views on the EU ETS are also highlighted. Ultimately, the EU ETS plays a significant role in shaping climate policy within the EU by regulating carbon emissions and fostering sustainable practices in the power sector.