The European Commission today delivered 300 million phase 3 allowances to the European Investment Bank (EIB). 200 million allowances need to be monetised within 10 months from the date of delivery, i.e. by 2 October 2012, in order to allow the Commission to adopt award decisions for successful bidders in the second half of 2012.
The EIB and the Commission will agree the timing of the second tranche of 100 million allowances based on a review of experience in selling the first 200 million allowances. Sales of the second tranche may therefore not continue immediately after the first tranche is finalised and may only be completed by end 2013.
Further information on the timing of the second tranche will be provided by the EIB and the Commission once decisions have been taken jointly.