5 Amendments of Kathleen VAN BREMPT related to 2014/0011(COD)
Amendment 27 #
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 starting inthe market stability reserve has a quick and significant impact on the European Emission Trading System, it should be established as of 2017. Without early introduction, projections show that the amount of surplus allowances would not fall below the 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 8COM(2012)652 final. COM(2012)652. 8 Insert reference. Insert reference.
Amendment 39 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) The establishment of the market stability reserve does not affect the allocation of free allowances to industry at risk of carbon leakage and only tackles the volume of allowances that are auctioned. Any genuine risk of carbon leakage should fully be addressed as part of the wider structural reform of the ETS in preparation for 2021. Until 2020, industry sectors which have been defined as being at risk of carbon leakage and which meet the relevant benchmarks, are protected by provisions in place which guarantee 100% free allowances. Guarantees to extend the existing carbon leakage measures have already been given in the Conclusions of the European Council of the October 2014.
Amendment 59 #
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 102 #
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(*).”
Amendment 124 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20261, the Commission shall on the basis of an analysis of the orderly functioning of the European carbon market review the market stability reserve and submit a proposal, where appropriate, to the European Parliament and to the Council. The review shall pay particular attention to the percentage figure for the determination of the number of allowances to be placed into the reserve according to Article 1(3) and the numerical value of the threshold for the total number of allowances in circulation set by Article 1(4).