Timetable for the banking process and the next upgrade of the Union registry
- Start date : 14/06/2013 00:00:00
As announced on 30 April, two temporary closures of the Union registry will take place in the first half of July.
Firstly, access to the Union registry for the banking process will be suspended from 08:00 CEST on Monday 1 July. Access to the Union registry will be suspended for a maximum of five consecutive working days and will resume no later than Monday 8 July 08:00 CEST. The banking process consists of the replacement of those allowances valid for the second phase of the EU Emissions Trading System (EU ETS) by new allowances of the same type valid for the third phase. This operation will be executed automatically on all user accounts during the closure. Completion of this step will formally close the second trading period.
Secondly, and following the banking process, an upgrade of the Union registry will be activated. The activation will require suspension of access to the registry for one day between 08:00 CEST on Wednesday 10 July and 08:00 CEST on Thursday 11 July. This upgrade follows the formal adoption of the new registry Regulation in early May and implements the rules related to the holding of certain units on EU ETS accounts. It will notably allow account holders to distinguish international credits that are eligible in the EU ETS from those not eligible and limit the holding of non-eligible units to Kyoto Protocol accounts only.
Once this new functionality has been activated, national administrators will notify account holders who hold units that are no longer eligible in the EU ETS. Account holders will then have to transfer these units to a Kyoto Protocol account. If they fail to do so within the given timeframe (40 working days following the request by the national administrator), the national administrator will transfer them to a national Kyoto Protocol account.
The functionality to exchange eligible international credits for allowances will be activated in a further upgrade of the Union registry planned for deployment no earlier than October 2013. More details will be communicated on this website before 15 September.
In the unlikely event of any changes to this schedule, updated information will be communicated on this website.