6 Amendments of Martina WERNER related to 2014/0011(COD)
Amendment 25 #
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 21027 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 established. 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 during phase 3 starting in 20217. In order to preserve a maximum degree of predictability, clear rules should be set for placing allowances into the reserve and releasing them from the reserve. Where the conditions are met, beginning in 20217, allowances corresponding to 120% 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. __________________ 7 8COM(2012)652 final. COM(2012)652. 8 Insert reference. Insert reference.
Amendment 37 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) The establishment and the operation of the market stability reserve represents a necessary reform of the ETS. The introduction of the market stability reserve particularly addresses the surplus of allowances that undermines the well- functioning of the emission trading system. Therefore reintroducing the allowances that have been back-loaded between 2014 and 2016 in accordance with the Commission Regulation 176/2014 of 25 February 2014 amending Regulation (EU) No 1031/2010 in particular to determine the volumes of greenhouse gas emission allowances to be auctioned in 2013-201a would significantly undermine the impact of the market stability reserve on the European carbon market. Accordingly, instead of being auctioned between 2019 and 2020, the back-loaded allowances should be permanently withdrawn from the emission trading system. _______________ 1a OJ L 56, 26.2.2014, p.56.
Amendment 58 #
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
1. A market stability reserve is established, and shall operate from 1 January 20217.
Amendment 69 #
Proposal for a decision
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The Commission shall publish the total number of allowances in circulation each year, by 15 May of the subsequent year. The total number of allowances in circulation for year x shall be the cumulative number of allowances issued in the period since 1 January 2008, including the number issued pursuant to Article 13(2) of Directive 2003/87/EC in that period and entitlements to use international credits exercised by installations under the EU emission trading system in respect of emissions up to 31 December of year x, minus the cumulative tonnes of verified emissions from installations under the EU emission trading system between 1 January 2008 and 31 December of year x, any allowances cancelled in accordance with Article 12(4) of Directive 2003/87/EC and the number of allowances in the reserve. No account shall be taken of emissions during the three-year period starting in 2005 and ending in 2007 and allowances issued in respect of those emissions. The first publication shall take place by 15 May 2017. The allowances that have been back- loaded between 2014 and 2016 in accordance with the Commission Regulation 176/2014 of 25 February 2014 amending Regulation (EU) No 1031/2010 in particular to determine the volumes of greenhouse gas emission allowances to be auctioned in 2013-201a should be permanently withdrawn from the emission trading system. ______________ 1a OJ L 56, 26.2.2014, p.56.
Amendment 74 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. In each year beginning in 20217, a number of allowances equal to 120% 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 99 #
Proposal for a decision
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
Directive 2003/87/EC
Article 10 – paragraph 1
Article 10 – paragraph 1
2. “1. From 20217 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Article 10a and 10c and are not placed in the market stability reserve established by Decision [OPEU please insert number of this Decision when known] of the European Parliament and of the Council(*).”