Second carbon leakage list – basic legal environment for the issue
- Category: Implementation
Determining the second carbon leakage list of sectors and subsectors exposed to significant list of carbon leakage will in the coming months be an important process, interested parties should not overlooked. At the outset of the said procedure it may be useful to briefly summarise the basic legal environment for the issue.
Emission factor and sustainability of biomass under the new M&R Regulation
- Category: Implementation
Impact Assessment accompanying the new M&R Regulation underlines that as of 2013 the term “biomass” will mean biomass, bioliquids and biofuels within the meaning of Renewable Energy Directive 2009/28/EC including sustainability criteria for biofuels and bioliquids.
Important to note that the first reference to “biomass” constitutes “EU ETS biomass”, the second reference refers to the Renewable Energy Directive 2009/28/EC definition of biomass, while the reference to sustainability criteria is only intended in connection with biofuels and bioliquids deemed sustainable in accordance with Directive 2009/28/EC; NOT other forms of (solid or gaseous) biomass.
There are the key considerations as pursuant to Annex IV of Directive 2003/87/EC and Article 38(2) of the new M&R Regulation the emission factor of biomass is zero.
The above legal developments mean, however, that comparing the current legal status of the biomass under the EU ETS rules with that in the third trading period (as of 2013) an important change to a definition of zero-rated biomass will follow i.e. requirement for biofuels and bioliquids to meet sustainability criteria contained in Directive 2009/28/EC in order to qualify for zero rating.
Treatment of the stolen allowances under the new IETMA Agreement
- Category: IETA Agreements - Commentary
The jurisdictional questions involving Article 37 of the Registry Regulation cause that under the same factual circumstances in one potential case the Seller may be established to be in good faith and in the other it won’t. This may have a direct influence on the determination on the Seller liability under IETMA.
Poland's request for a continued free allocation approved but is this really the end of the game?
- Category: Implementation
The question may be posed, how the Commission intends ‘to provide legal certainty to the Member States, the power generators concerned and the market on the quantity and terms of the transitional free allocation in the situation, where the issue is not decided yet due to required and not made State aid assessments?
New Energy Efficiency Directive - minimum requirements for energy billing information
- Category: Energy efficiency
The sixth and final trilogue on the proposed Energy Efficiency Directive was held on 13-14 June in Strasbourg. As a result of discussions at the trilogue, a number of compromise elements were put forward. Important changes were also made as regards the previously proposed requirements for energy billing information.
Draft Regulatory Technical Standards on OTC Derivatives – which OTC derivative contracts are ‘objectively measurable as reducing risks directly relating to the commercial activity or treasury financing activity’
- Category: EMIR
The determination of the circumstances in which OTC derivative contracts are ‘objectively measurable as reducing risks directly relating to the commercial activity or treasury financing activity’ represents the key EMIR qualification, since when the criteria are met, the OTC derivative contract is excluded from the computation of the clearing threshold.
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