The procedure will be as follows:
In phase 3 of the EU ETS international credits – i.e. Certified Emission Reductions (CERs) and Emission Reduction Units (ERUs) – are exchanged rather than used directly. The Commission will therefore publish a regulatory update on 2 May 2017 at 12:00 CEST setting out the aggregate number of international credits which has been exchanged for allowances by 30 April 2017.
[The term "installation" refers either to a fixed installation or an aircraft operator.]