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Monday, 19 November 2012

EU addresses the supply-demand imbalance in the EU ETS

The European Commission made on November 14 a proposal to revise the auction time profile and delay the auctioning of 900 million allowances in the third phase of the emissions trading system (EU ETS) in the third phase of the EU ETS starting next year (2013-2015), and adopted today a report which sets out possible measures to tackle the surplus.
The 900 million allowances not auctioned between 2013-2015 will be transferred to the 2019-2020 phase.
The surplus of emission allowances has primarily built up because the economic crisis has reduced industrial emissions of greenhouse gases by more than anticipated, leading in turn to lower demand for allowances from businesses. The surplus is expected to continue in the third phase of the system, which will run from 2013 to 2020.
The adopted report outlines a shortlist of six options for structural measures that could provide a sustainable solution to the surplus in the longer term. The Commission invites stakeholders' views and will shortly launch a formal consultation process.
The EU ETS currently covers about 11,000 industrial installations and some 40% of the EU's emissions. From this year the aviation sector is also covered.


Source: European Commission

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