Commission takes first step toward determining cap on emission allowances for 2013
- Start date : 09/07/2010 00:00:00
The European Commission adopted on 9 July 2010 a decision which determines for the first time a ceiling or 'cap' on the number of emission allowances that will be available under the EU Emissions Trading System (EU ETS) in 2013, the first year of the 2013-2020 trading period. This has been done in line with the provisions of the revised Emissions Trading Directive, which applies to the 2013-2020 trading period.
The cap for the year 2013 has been determined at 1.927 billion (the precise figure is 1,926,876,368). It has been calculated on the basis of a formula which applies a 1.74% annual reduction in allowances below the average yearly total allocated through Member States' national allocation plans in the 2008-2012 trading period.