Why can’t new investments in Polish power generators benefit from derogation laid down in Article 10c of the Directive EU ETS
- Category: Emissions trading
There is a threat, that new investments of Polish power generators can’t benefit from derogation provided for in Article 10c of the Directive 2003/87/WE – contrary to intentions, which were expressed by politicians and negotiators during December 2008 negotiations of climate - energy package.
 Why can’t new investments in Polish power generators benefit from derogation | [Anaysis of Article 10c of the Directive EU ETS] | 68 kB |
Polish emission trading bill – unfortunately with many mistakes
- Category: Emissions trading
Polish national implementation measure – the bill of 22 December 2004 of a greenhouse gas and other substances emission trading addresses contract of sale as an only one, that can be applied in relation to a disposal of emission allowances.
It is a classical mistake of legislators.
First opinions in the European Commission’s consultation on the auctioning
- Category: Legal Alert
We remind, that it is now running the period for submission to the European Commission of opinions and remarks in respect of the future shape of the auctioning system.
Their opinions expressed inter alia the Danish Energy Association and the the Association of the Austrian Electricity Companies.
According to both opinions, a single-round sealed-bid auction is the most appropriate auction format for auctioning EU allowances. In the views of the stakeholders, the most appropriate pricing rule for the auctioning of EU allowances is uniform-pricing.
Rationale for this is the view that such a formula gives a clear price signal for the value of an EUA, thereby increasing predictability. It also ensures that every successful participant pays the same price, meaning that the auction price will be fair and minimises the risk of distorting the secondary market.
Both organisations also consider, that the rule for solving ties in the future Regulation should be pro-rata re-scaling of bids.
The opinions of both stakeholders are also consistent in that there should no reserve price apply.
Polish national and sectoral plans of emissions reduction – is this risk manageable?
- Category: Emissions trading
On the 19 of June 2009 the lower house of the Polish Parliament (Sejm) has adopted the bill on the management system of GHG emissions and other substances.
The bill provides inter alia for legal framework for national and sectoral plans of emissions reduction.
During the course of the legislatory proceedings the main controversy was the position of forests as a sinks of a carbon.
But, paradoxically, the legal basis for national and sectoral plans of emissions reduction evoke no questions or discussions. This is surprising, because these plans are actually real threat for Polish companies and entrepreneurs.
| Polish national and sectoral plans of emissions reduction | [ ] | 76 kB |
Thirty days for a withdrawal of the petition to declare bankruptcy - an Event of Default in the IETA Master Agreement
- Category: IETA Agreements - Commentary
Under the point 12.2 (d) (iv) of the IETA Master Agreement (Emissions Trading Master Agreement for the EU Scheme version 3.0) a party to the IETA agreement has only 30 days to cause the withdrawal of the petition to declare bankruptcy, filed to the court with respect to it. If it fails to do so, the other party of the IETA agreement is entitled to terminate the agreement as a consequence of an Event of Default.
Taking into account, that in some countries of the European Union judicial procedures are not so efficient and the period of 30 days is far too short to do anything in this respect, it may be the considerable risk . Let’s see, how it is working on the Polish market.
| Thirty days for a withdrawal of the petition to declare bankruptcy.pdf | [ ] | 50 kB |
An error in the definition of Delivering Party’s Replacement Cost (Emissions Trading Master Agreement for the EU Scheme version 3.0)?
- Category: IETA Agreements - Commentary
It seems to be an error in the definition of Delivering Party’s Replacement Cost in the Emissions Trading Master Agreement for the EU Scheme version 3.0.