Activities of Nicola CAPUTO 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 (11)
Amendment 34 #
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 the market stability reserve has a quick and significant impact on the European Emission Trading System it should be established as of 2017. Without early estability reserve should be establisshment of the reserve, projections show that thed as of phase 4 starting inmount of surplus allowances would not fall below current levels until 20215. 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 4300 million. __________________ 7 COM(2012)652 final. 8 Insert reference.
Amendment 55 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) Allowances that are backloaded in accordance with Decision No 1359/2013/EU of the European Parliament and of the Council1a and Commission Regulation (EU) No 176/20141b should be cancelled in order to limit large fluctuations of the carbon price in the future and in order to prevent the flooding of an already oversupplied market in 2019 and 2020. __________________ 1aDecision No 1359/2013/EU of the European Parliament and of the Council of 17 December 2013 amending Directive 2003/87/EC clarifying provisions on the timing of auctions of greenhouse gas allowances (OJ L 343, 19.12.2013, p. 1). 1b Commission Regulation (EU) No 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 2013-20 (OJ L 56, 26.2.2014, p. 11).
Amendment 57 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) In pursuing the goal of creating a single energy market, it is necessary to overcome the distortions caused by the current funding mechanism in favour of sectors or sub-sectors deemed to be at significant risk of carbon leakage owing to the knock-on effect on electricity prices of greenhouse gas emissions costs. Further amendments to Directive 2003/87/EC are therefore necessary and the Commission should accordingly propose harmonised arrangements at EU level, different from the mechanism currently governed by state aid rules, which could enter into force at the start of phase 4 in 2021.
Amendment 66 #
Proposal for a decision
Recital 3 b (new)
Recital 3 b (new)
(3b) EU-harmonised measures different from the current state aid mechanism should be put in place so as to secure a fully level playing field, and to offset, in all Member States, carbon costs passed on through electricity bills.
Amendment 96 #
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 132 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. InBy 30 June of 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 10067 million.
Amendment 143 #
Proposal for a decision
Article 1 – paragraph 4
Article 1 – paragraph 4
4. In any year, if the total number of allowances in circulation is lower than 4300 million, 100 million allowances shall be released from the reserve. In case less than 100 million allowances are in the reserve, all allowances in the reserve shall be released under this paragraph.
Amendment 168 #
Proposal for a decision
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
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 [OPEUJ: please insert number of this Decision when known] of the European Parliament and of the Council(*).”
Amendment 176 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 a (new)
Article 2 – paragraph 1 – point 3 a (new)
Directive 2003/87/EC
Article 10 – paragraph 1 b (new)
Article 10 – paragraph 1 b (new)
3a. In Article 10, the following paragraph shall be inserted: "1b. Allowances that are backloaded in accordance with Decision No 1359/2013/EU of the European Parliament and of the Council and Commission Regulation (EU) No 176/2014 shall be permanently deleted.
Amendment 182 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 d (new)
Article 2 – paragraph 1 – point 3 d (new)
Directive 2003/87/EC
Article 10 – paragraph 3 – point - a (new)
Article 10 – paragraph 3 – point - a (new)
3d. In Article 10(3), the following point shall be inserted: "(-a) to establish a fund dedicated to the innovation and modernisation of energy- intensive installations, in particular in the sectors and sub-sectors referred to in Article 10a(15);"
Amendment 226 #
Proposal for a decision
Article 4 – paragraph 1
Article 4 – paragraph 1
Article 10(1) of Directive 2003/87/EC as amended by Directive 2009/29/EC shall continue to apply until 31 December 202016.