Internal Electricity Market - balancing arrangements at the crossroads
- Category: Network Codes
The future shape of the European balancing market is not an obvious choice, since the surveys highlighted the great diversity of arrangements throughout Europe in that regard.
Although the balancing can be perceived as a technical only market, its design in many respects will influence on economic decisions in many connected areas.
Statistics of the California November 14, 2012 auction and publication of the Reserve Price for 2013
- Category: California cap-and-trade
Interesting parameter is that compliance entities bought 97.0% of 2013 vintage allowances and 91.0% 2015 vintage allowances at California November 14, 2012 auction. It appears to show that speculative trading in California allowances has the potential to rise.
Legal flaws of the EU ETS compliance regime for aviation
- Category: General
The growing legislative mess in the area of the EU ETS legislation has the potential to evoke the feeling of disappointment. The recent instances of the above can be the political tensions on account of the so-called back-loading as well as the European Commission’s Proposal for a Decision of the European Parliament and of the Council “derogating temporarily from Directive 2003/87/EC of the European Parliament and of the Council establishing a scheme for greenhouse gas emission allowance trading within the Community“ (2012/328 (COD)) regarding the status of aviation.
MiFID II emission allowances position reporting – important regulatory changes
- Category: MiFID
For the purposes of MiFID II reporting, operators with compliance obligations under Directive 2003/87/EC are categorised as a distinct group of traders within a broader spectrum of members, participants (and clients) of the regulated markets, MTFs or OTFs.
MiFID II emission allowances position limits – threefold means of regulatory influence
- Category: MiFID
It is interesting that the architecture envisioned has, in its primary form, a decentralised character i.e. the respective decisions on the introduction of positions limits are to be taken at the level of the trading venue. It is to be borne in mind that pursuant to MiFID II legislative design the above developments will also be relevant for commodity derivatives as well as emission allowances and derivatives thereof. Market strategies mustn’t neglect that fact.
Will forwards regarding banned ERUs be allowed in New Zealand Emissions Trading Scheme after the ban date?
- Category: CER, ERU
Among the options currently considered in public consultations no units entering the New Zealand Emission Unit Register after the ban date could be used to meet surrender obligations, regardless of forward contracts.
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