» Back to listing The European Commission (EC) approves UK’s national auction platform under the EU Emissions Trading System (EU ETS)

The European Commission (EC) Climate Change Committee (CCC) voted to approve the UK’s national auction platform for phase III and aviation auctions under the European Union Emissions Trading System (EU ETS).

• The European Union EmissionTrading System (EU ETS) is at the heart of UK Government policy to tackle climate change
• The rules governing the system are set out in the EU ETS Directive; it covers sectors responsible for around half of the UK’s carbon dioxide emissions 
• In 2008, the EU ETS Directive was revised to make auctioning the main method for allocating emissions allowances in Phase III of the EU ETS (2013-2020). In Phase III, at least 50% of general emissions allowances will be auctioned across the EU. In addition, EU member states will auction 15% of aviation allowances.
• Under the rules set out in the EU Auctioning Regulation, Member States have the option to either auction via a common EU platform, or set up their own, national platform. The UK, Germany and Poland have opted to set up national auction platforms.
• In April DECC announced that ICE Futures Europe was its preferred supplier for the contract to conduct auctions of phase III and aviation EU ETS. This followed an EU-wide competitive tender process that launched in December 2011.

For further infomation see: http://www.decc.gov.uk/en/content/cms/emissions/eu_ets/phase_iii/phase_iii.aspx