Consultation paper New State aid Guidelines in the context of the amended EU Emissions Trading Scheme - emission factor most important?
- Category: Implementation
The CO2 emission factor corresponds to the CO2 emissions per MWh of electricity generated and the questionnaire prepared by the Commission raises the issue what CO2 factor to use as a basis for calculating the compensation for costs relating to greenhouse gas emissions passed on in electricity prices. The Directive 2003/87/EC didn’t precisely specify this issue and the said question is now at the centre of discussion. The outcome of the debate may impact on the competitiveness of the whole industries.
Guidance on the optional application of Article 10c beset with legal traps (II)
- Category: Implementation
Designing the legal mechanism to account for the relevant transfers of funds is an ultimate ambush.
What would be the legal form (what kind of agreement, sale, donation, other) of the purported transfers between companies taking part in the operations for the transfer of funds, how these operations would be accounted for, what form of taxation to apply (as regards VAT, CIT), and what would be the effects of these processes on the profits of the company – all these matters require analysis.
Guidance on the optional application of Article 10c beset with legal traps (I)
- Category: Implementation
If somebody hoped so far that submitting national plan for investments, pursuant to Article 10c(5) of Directive 2003/87/EC, would in any way resolve the question of state aid, he should now, after publication of the guidelines, have no illusions about it.
Guidance on the optional application of Article 10c – the notion of “physically initiated” investment once more in focus
- Category: Implementation
“Preparatory work” concept casts numerous doubts. Will current legislative efforts at national level manage the situation to be cleared up?
The volumes of early auctions specified but the method and detailed timelines for monetisation of phase 3 allowances from NER 300 still uncertain
- Category: Emissions trading
According to the European Investment Bank all sales of CO2 allowances from the new entrant reserve (NER300) will be of a forward nature for settlement in December 2013 at the earliest. The options for the monetisation method are: auctions, on an exchange and over the counter.
It follows from the Cooperation Agreement between European Commission and the European Investment Bank on the implementation of Commission Decision C(2010) 7499 that the main elements of the monetisation method including the defined monetisation period and the expected total volume of monetisation should be published on the EIB's website but it has not been done yet.
This publication is impatiently awaited because there are some ambiguities as regards important for EUETS participants features of monetisation.
ICE Futures Europe Circular 11/038 of 10 March 2011 – safeguarding the position of the Exchange but what about the traders?
- Category: Emissions trading
Does the ICE Futures Europe Circular 11/038 of 10 March 2011 mean that the trader that was delivered by the Clearing House and the Exchange “prohibited” emission allowances has no legal remedies against the seller? Such a rule would be difficult to accept from the position of legal interests of the buyer as a party to the agreement. It seems that in the said document there are also other points that should be carefully considered.
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