Thursday 10 February 2011

EU announces 2011 schedule

The EU Emissions Trading System auction schedule has been published by the UK government for April 2011 up to December 2011.

The schedule for Phase 2 auctions in 2012 will be announced later this year. The EU ETS is the largest multi-national emissions trading scheme in the world and currently covers more than 10,000 installations.

The UK government intends to auction 17.5 million allowances from April 2011 to December 2011. These will consist of five auctions with volume sizes of 3.5 million allowances.

EU governments are required to set an emissions cap for all installations covered by the system. If an installation fails to give up sufficient allowances to cover its annual emissions, it could face financial penalties.