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Member States approve listing of the UK's phase 3 auction platform

  • Start date : 11/07/2012 00:00:00
Member States approve listing of the UK's phase 3 auction platform

Today the Climate Change Committee supported the United Kingdom's proposed opt-out auction platform under the Auctioning Regulation.

 

The Committee backed an amendment to the Regulation to list in its Annex the definitive auction platform that the UK intends to appoint for the auctioning of its share of the volume of allowances to be auctioned. Following a procurement procedure, the UK selected ICE Futures Europe (ICE) and notified the Commission of the detailed provisions on the planned conduct of the auctions. The Commission has found the proposed appointment compatible with the requirements of the Auctioning Regulation and the objectives of the ETS Directive.

The UK's opt-out platform is the second to be listed under the Auctioning Regulation. Germany's transitional opt-out platform was accepted by the Committee in April this year.

The Commission will now submit this latest draft amendment to the European Parliament and the Council for their scrutiny. Provided that they raise no objections within three months, the Commission will adopt and publish the amendment, after which it will enter into force.