Legal Alert


It is very likely that the events as regards monetisation of allowances by the EIB will run now quickly. If the legislative process relative to EU ETS registry rules is completed (as declared) in the first half of November 2011, the start of the sale of the first tranche of 20 million allowances could be in December. The consequent 9 monthly tranches of 20 million EUA’s will in that event follow from January 2012 till September 2012.


Furthermore, assuming that, as the EIB indicated, the sale of the remaining 100 million allowances should be completed before 2013 and started immediately after the conclusion of the sale of the first 200 million allowances, it would fall for each month in the last quarter of 2012  approximately 33 million of EUAs for disposal.