The energy sector is central to worldwide climate protection strategies as it produces a large amount of carbon emissions. However, the effect of emissions reduction policies such as the EU Emissions Trading Scheme (EU-ETS) has not been conclusively evaluated so far. Although several studies based on ex-ante simulation models exist, econometric ex post analyses with micro data are still scarce. Therefore, in this project, we want to analyse empirically the effect of the EU ETS on conventional power plants in Germany.