Activities of Flavio ZANONATO related to 2014/0011(COD)
Plenary speeches (1)
Market stability reserve for the Union greenhouse gas emission trading scheme (A8-0029/2015 - Ivo Belet) IT
Amendments (5)
Amendment 21 #
Proposal for a decision
Recital 2
Recital 2
(2) The report from the Commission to the European Parliament and the Council on the state of the European carbon market in 21027012 identified the need for measures in order to tackle structural supply-demand imbalances. The impact assessment on the 2030 climate and energy policy framework8 indicates that this imbalance is expected to continue, and would not be sufficiently addressed by adapting the linear trajectory to a more stringent target within this framework. A change in the linear factor only changes gradually the cap. Accordingly, the surplus would also only gradually decline, such that the market would have to continue to operate for more than a decade with a surplus of around 2 billion allowances or more. In order to address this problem and to make the European Emission Trading System more resilient to imbalances, a market stability reserve should be establishedTS more resilient to supply-demand imbalances, and thus to correct a design error in that system, so as to enable it to function as an orderly market with stable and competitive prices, reflecting the true value of allowances, a market stability reserve should be established. The market stability reserve should also ensure synergies with other climate policies such as those on renewable energy and energy efficiency. To ensure regulatory certainty as regards auction supply in phase 3 and allow for some lead-time adjusting to the introduction of the design change, the market stability reserve should be established as of phase 4 starting in 2021. In order to preserve a maximum degree of predictability, clear rules should be set for placing allowances into the reserve and releasing themn from the reserve. Where the conditions are met, beginning in 2021, allowances corresponding to 12% of the number of allowances in circulation in year x-21 should be put into the reserve. A corresponding number of allowances should be released from the reserve when the total number of allowances in circulation is lower than 400 million. __________________ 8 Insert reference.
Amendment 34 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) In addition to the establishment of the market stability reserve and the resulting amendments to Directive 2003/87/EC, provision should be made for those sectors deemed to be exposed to a significant risk of carbon leakage.
Amendment 44 #
Proposal for a decision
Recital 3 b (new)
Recital 3 b (new)
(3b) Bearing in mind that costs related to greenhouse gas emissions are being passed on in energy prices, the Commission should consider non- financial forms of compensation, including the option of reserving an appropriate percentage of allowances for sectors and subsectors deemed to be exposed to a significant risk of carbon leakage.
Amendment 79 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. In each year beginning in 2021, a number of allowances equal to 12% of the total number of allowances in circulation in year x-21, as published in May year x-1, shall be placed in the reserve, unless this number of allowances to be placed in the reserve would be less than 100 million.
Amendment 116 #
Proposal for a decision
Article 2 a (new)
Article 2 a (new)
Article 2a Review of Directive 2003/87/EC By ...*and in accordance with the ordinary legislative procedure, the Commission shall submit a proposal to the European Parliament and to the Council for a comprehensive review of Directive 2003/87/EC, including the option to free allocations beyond the year 2020 to best performers in sectors and subsectors deemed to be exposed at risk of carbon leakage to better reflect changing production levels. EU-harmonized measures different from the current state aid mechanism, to offset, in all Member States, carbon costs passed through in the electricity bill, should secure a full level playing field. _______ *OJ: Please insert the date: three months after the entry into force of this Decision.