Archive for the 'Emission Trading' Category

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EU ETS – Environment Minister Hendricks Calls for Faster Reform

The representatives of the Permanent Representatives Committee (Coreper) adopted a negotiation mandate for reforming the European Emission Trading Scheme (EU ETS) paving the way for a trilogue between the Latvian Presidency, the EU Parliament and the Commission, German Environment Minister Barbara Hendricks informed. She welcomed part of the compromise but demanded a faster pace.

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Commission Adopts Strategy for European Energy Union

The European Commission has today adopted its European Energy Union Package. It includes three communications, covering a “Framework Strategy for a Resilient Energy Union with a Forward-Looking Climate Change Policy, and Interconnection Communication, and a communication setting out a vision for a global climate agreement in Paris in December.

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EU Environment Committee Votes in Favour of ETS Market Reserve, Advocates Early Start and Inclusion of “Back-loaded” Allowances

The Environment Committee of the European Parliament has voted in favor of a draft law proposing to reform the EU Emissions Trading Scheme (ETS) by reducing the surplus of emission allowances available for trading in order to support the price. They advocated introducing the mechanism early, by the end of 2018, and also proposed preventing the automatic return to the market of a portion of allowances “back loaded” (withheld from the scheme) last year in a separate vote.

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German Environment Minister Barbara Hendricks on Paris 2015, Renewables and Nuclear Decommissioning Costs

The keynote speech of the German Minister of the Environment, Barbara Hendricks, at the Handelsblatt Annual Energy Conference focused on Germany’s perspective and expectation for the Climate Conference 2015 in Paris. She stressed the importance to agree on a follow-up agreement of the Kyoto Protocol. The fact that the USA and China have reached an agreement very much increases the chances for a compromise. However, she noted that it will be very challenges and requires the will to compromise from all parties to reach a global accord.

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Crash Course Greenhouse Gas Emissions Law – EU ETS and EEG

Prof. Säcker again organised one of his excellent energy seminars at the Institute for Energy and Regulatory Law Berlin. On 12/13 January, it was his  energy law crash course. I had the pleasure of speaking on greenhouse gas emissions law.

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EU Parliament Environment Committee Rejects Objection Against Commission’s Proposal for a Carbon Leakage List

The European Parliament’s Environment Committee (ENVI) yesterday rejected an objection against the “carbon leakage” list proposed by the European Commission in May 2014 for the period 2015 to 2019.

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Study: Up to EUR 187 Billion EEG Induced Extra Costs by 2030?

The EEG surcharge consumers have to pay in support of renewable energy sources will rise further, a study by Ifo Institute for Economic Research on behalf of the Association of Family Businesses (Die Familienunternehmer) concludes. The study calculates EEG related extra costs arising because the European Emissions Trading System (EU ETS) is supplemented in Germany by the EEG that promotes renewable energy sources. Extra costs are in the range of EUR 114 to 187 billion by 2030, not including costs incurred in the past and without saving one additional gramme of CO₂, the study says.

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Start of Backloading of Emission Allowances – Fewer Allowances Auctioned

The amount of emission allowances auctioned under the EU emissions trading scheme (EU ETS) has been reduced by 400 million for 2014. The measure is part of a so-called back-loading scheme that postpones the auctioning of 900 million allowances in total in the period from 2014 to 2016 to 2019 and 2020 to allow demand for allowances to pick up and provide greater incentive to invest in greenhouse gas emission reductions. Auctioning of the reduced volume has begun at the European Energy Exchange (EEX). German auctioning volume now amounts to only 127.1 million instead of 205 million allowances, the Federal Ministry for the Environment informed.

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Council Gives Green Light to Commission Regulation Permitting Backloading of Emission Allowances

The Council today decided not to oppose the adoption of a Commission regulation amending Regulation No 1031/2010, which in particular determines the volumes of greenhouse gas emission allowances to be auctioned in 2013-2020.

Commission Proposes 40% Greenhouse Gas Emission Reduction Target for 2030 – Renewables Target without Individual Member Country Target

A centre piece of the EU framework on climate and energy for 2030 proposed yesterday by the European Commission is a 40% reduction target for greenhouse gas (GHG) emissions below the 1990 level. The proposal also includes an EU-wide binding target for renewable energy of at least 27%, which shall, however, not be translated into national targets through EU legislation. A new energy efficiency target has not yet been set.

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