EIB is ready to monetise phase three allowances
- Category: Emissions trading
Even though the EIB declares that it does not take any view on EUA’s prices and does not have a price target for the monetisation of the EUAs and the main objective of the monetisation is to minimise any impact on the EUA market it will turn out soon what will be the effects of the whole process on the carbon market.
The Polish NAP corrected ex post
- Category: Emissions trading
The allocations for some Polish installations for 2012 will be decreased and set aside for the reserve pursuant to the new draft Law. For additional allowances may count the installations which were subject to change.
The criteria for the granting carbon dioxide transport projects the PCI status pursuant to the new draft Regulation on guidelines for trans-European energy infrastructure
- Category: CCS
The cross-border carbon dioxide network can get the project of common interest status, which, in turn, enables the significant streamlining of the investment.
The Draft Report of 28 October 2011 on a Roadmap for moving to a competitive low carbon economy in 2050 – the potential breakthrough in European climate policies?
- Category: Implementation
With respect to the Emissions Trading System the Draft Report ‘acknowledges that the carbon price is very much lower than was originally envisaged and is failing to provide the necessary investment stimulus’, and proposes to recalibrate the ETS before the commencement of the third phase by setting aside allowances to restore scarcity.
The Draft Report presents also some other quite revolutionary theses, notably the modification of 1.74% annual linear reduction factor, the reserve price for the auction of allowances, reducing greenhouse gas emissions from agriculture, time limits for new sources of electricity generation emitting more than 100g CO2/kWh and border adjustment measures requiring importers of products in carbon leakage sectors to purchase allowances – all of them of potential fundamental impact on European industries.
The European Economic and Social Committee’s opinion does not touch the most controversial points of the new energy efficiency draft Directive
- Category: Energy efficiency
The schedule for further procedure as regards new energy efficiency Directive is following:
24/11/2011 Council: debate or examination expected,
24/01/2012 EP: report scheduled for adoption in committee, 1st or single reading,
17/04/2012 EP plenary sitting (indicative date).
The EESC opinion issued on 26 October 2011 doesn’t, however, positively feed into the resolution of the main dilemmas undermining the initiative concerned.
Preparations for California cap-and-trade auctions
- Category: Emissions trading
The objective of the requests for proposals currently released by the Air Resources Board in California is to administer financial and transaction services to support up to six quarterly GHG allowance auctions and up to six “reserve sales” to implement the California cap-and-trade program. ARB is anticipating the first California allowance auction will take place in late 2012. The auctions will continue based on the calendar quarter for the remainder of the program.
The deadline for receipt of proposals is December 2, 2011.
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