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22 October 2010 Cap on emission allowances for 2013 adopted
The European Commission has adopted today a second decision which determines 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.
The cap for the year 2013 has been determined at 2.039 billion allowances. 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. The application of this reduction each year will result in a 21% fall in emissions from the 2005 level by 2020.