ARTICLE · 09 OCTOBER 2012

EU/CEE: Carbon Trading Post-2012 – A Battle For Transitional Free Allocation Of Emission Allowances

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The EU Climate Change Package provides for a substantial change to the current European Trading Scheme.

European UnionEnvironment

Bernd Rajal

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The EU Climate Change Package provides for a substantial change to the current European Trading Scheme. The principle of allocating emission allowances for free is replaced by auctioning. The power sector and certain industries will therefore face substantial carbon costs in future. The CEE power plant sector may, however, benefit from transitional free allocation of allowances. Unfortunately, this benefit is accompanied by legal uncertainties bringing headaches to the operators.

EU

The EU Climate Change Package provides for a revision and strengthening of the Emissions Trading System (ETS). A single EU-wide cap on emission allowances will apply from 2013 and will be cut annually, reducing the number of allowances available to businesses to 21% below the 2005 level in 2020. Further, the free allocation of allowances will be progressively replaced by auctioning. In July 2011 the EU member states agreed to the EC proposal to auction 120 million emission allowances

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EU/CEE: Carbon Trading Post-2012 – A Battle For Transitional Free Allocation Of Emission Allowances

EU

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