Council and Parliament not opposed to draft benchmarks governing free allocations

The Council has decided not to oppose to the Draft Commission Decision determining transitional Union-wide rules for the harmonised free allocation of emission allowances in the EU Emissions Trading System from 2013. This means that now that the Council has given its consent, the Commission may adopt the act. From 2013, free allocation of emission allowances in the ETSⁱ will be determined by these benchmarks.

On 16 March 2011, the objections raised against the Benchmark and Allocation Rules package were all rejected in the ENVI Committee of the European Parliament. The package is therefore approved by the European Parliament. The package may now receive final approval, any Wednesday, by the European Commission. The European Commission has proposed that 120 million allowances should be auctioned in 2012, ahead of the start of the 2013-2020 trading period in the EU Emissions Trading System. The proposal takes the form of a draft amendment to the EU ETS Auctioning Regulation, which has been submitted to the Climate Change Committee. In addition to the 300 million allowances from the NER300 demonstration programme, which the European Investment Bank intends to monetise by the end of 2012, the proposed amount is considered appropriate to ensure a smooth transition to the third trading period starting in 2013.