The European Commission adopted a decision on Member States’ national implementation measures (NIMs) for phase three of the EU Emissions Trading System (EU ETS).
The actual number of allowances handed out each year will be adjusted by a ‘cross-sectoral correction factor’ which will vary each year. This will ensure that the total amount handed out for free does not exceed a maximum set in the ETS Directive. The correction factor will be 5.73 % in 2013 and will thereafter increase gradually to 17.56% in 2020.
It is now for Member State authorities to take the necessary steps to distribute the free allowances to installations via their accounts in the Union registry. This will take around one to three months depending on the procedures to be followed in each Member State.
The original article is available in the EC web page.
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