EC Reg 176/2014 - backloading ETS

European commission Regulation 176/2014 enables the European commission to "backload" the sale of ETS allowances and came into force on 26 February

26 February 2014

Energy - EU

European commission Regulation 176/2014 amends Regulation 1031/2010 to reduce the quantity of greenhouse-gas emission allowances to be auctioned between 2013-20.

This "backloading" measure temporarily withdraws 900 million allowances between 2014 and 2016 to tackle oversupply as a result of continued poor economic conditions.

400 million allowances will be withdrawn in 2014, with 100 million being removed each quarter. Allowances withdrawn are scheduled to be returned to the market by auctions between 2019 and 2020.