Divergent opinions on the scope and functions of the transparency regime for the wholesale energy market - the review of the contributions to the recently-closed public consultation
- Category: Legal Alert
According to the revealed contributions to the consultation on the enhanced transparency regime for the wholesale energy markets the German utilities RWE and EnBW share the view that generation and consumption units need to be treated the same.
RWE and EnBW differ, however, in whether the aggregate or unit-by-unit data should be published.
As it seems, it is the EdF that reaches one of the core problems, which is the need that the transparency regime should not require divulging the commercial and hedging strategies of market players, which remain strictly confidential.
Guidance Document n°7 on New Entrants and Closures – important clues on the definition of ‘physical change’ made in the installation in the context of free allocation of carbon credits
- Category: Legal Alert
The long-awaited Guidance Document n°7 issued in September specifies which technical modifications constitute ‘physical change’ in the EU ETS installation and which do not. The additional or reduced allocation of emission allowances valid in the third trading period obviously is at stake.
Analytical study sceptical about the benefits from potential including of fluorinated gases in the European Union Emissions Trading Scheme
- Category: Legal Alert
The European Commission on 26 September 2011 launched a public consultation on strengthening EU measures to reduce emissions of fluorinated gases. Among manifold policy options considered analytical study attached to the consultation’s documents expressed little preference for the general inclusion of hydrofluorocarbons (HFCs), perfluorcarbons (PFCs) and sulphur hexafluoride (SF6) in the EU ETS.
Implications of the European Market Infrastructure Regulation (EMIR) for commodity firms trading on the emissions market - changes by the European Parliament on 5 July 2011
- Category: Legal Alert
The text of the legislative proposal for EMIR, originally proposed of the European Commission on 15 September 2010 (COM(2010) 484 final), being analysed in the post ‘The implications of the European Market Infrastructure Regulation (EMIR) for commodity firms trading on the emissions market’, has been substantially changed by the European Parliament on 5 July 2011 (ordinary legislative procedure: first reading).
The modifications made are far-reaching and in a particular way influence on the position of the commodity firms trading on the emissions market. Beneath a cursory review of the main amendments to the draft EMIR by the European Parliament on 5 July 2011 with focus on those particularly relevant for non-financial counterparties.
Provisions on companies affiliations added to REMIT by the European Parliament on 14 September 2011
- Category: Legal Alert
The European Parliament in the 1st reading extended the obligation to publish inside information on parent undertakings and related undertakings.
The takeover of the heat supply – implications for allocations of CO2 allowances
- Category: Implementation
The emissions trading complicates sometimes things the were quite simple so far.
This contention (burdened, some may say, with obviousness) is, however, properly reflected in a practical situation where one heat producer undergoes the significant capacity reduction, or partially or even entirely ceases its operations and the supplies of the heat to the district heating pipelines are taken over by another heat producer which, in turn, must invest in new capacities (which consequently constitutes significant capacity extension in the meaning of the European Commission’s Decision determining transitional Union-wide rules for the harmonised free allocation of emission allowances pursuant to Article 10a of Directive 2003/87/EC of 27 April 2011).
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