Proposal for a Decision of the European Parliament and of the Council amending Directive 2003/87/EC clarifying provisions on the timing of auctions of greenhouse gas allowances

The emission trading system (EU ETS) set up by Directive 2003/87/EC has created the world's first major carbon market and an EU-wide carbon price. The market is generally considered liquid and based on a well-functioning infrastructure. Part of this infrastructure relates to the modalities for auctioning of emissions allowances, where the Directive confers implementing powers to the Commission, notably through the adoption of a Regulation on "the timing, administration and other aspects" of auctioning. The Commission has already exercised this power and the Regulation in question was already amended a number of times.

However, in the context of an ongoing debate about the need and options for possible future action to address imbalances between supply and demand, some stakeholders have challenged the interpretation the Commission has so far relied on as regards to the extent of its powers. The Directive should urgently be clarified on this point so as to eliminate any doubts about the scope of the Commission's powers and ensure legal certainty regarding possible future measures adopted by the Commission on this basis.

EUR-Lex: COM(2012)416: Follow the progress of this document through the decision-making procedure http://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2012:416:FIN

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