The European Commission finally presents options to reform the European carbon market

(LEXEGESE) - According to the European Commission, 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. Kurt F. Domnik / pixelio.de European Commission is now taking steps to address the growing supply-demand imbalance of emission allowances in the EU emissions trading system (EU ETS). As an immediate first step to address the rapid build-up of the surplus of emissions allowances, the Commission made a formal proposal to revise the auction time profile and delay ("back-load") the auctioning of 900 million allowances in the third phase of the EU ETS starting in 2013 (below I.). The Commission also adopted on 14 November 2012 a report on the state of the European carbon market which sets out a range of possible structural measures that can be taken to tackle the surplus (below II.). I. Back-loading of auction volumes as a necessary first step From 1 January 2013, when the third phase of the EU ETS begins, auctioning will become the main method for allocating emission allowances to businesses ...Zum vollständigen Artikel


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