Activities of Gerben-Jan GERBRANDY related to 2014/0011(COD)
Shadow reports (1)
REPORT on the proposal for a decision of the European Parliament and of the Council concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC PDF (414 KB) DOC (318 KB)
Amendments (15)
Amendment 20 #
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 in 2021 as of January 2017. 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, when the total number of allowances in circulation is higher than 600 allowances, beginning in 20217, 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 4200 million. __________________ 7 COM(2012)652 final. 8 Insert reference.
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 in 2021 as of January 2017. 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 COM(2012)652 final. 8 Insert reference.
Amendment 29 #
Proposal for a decision
Recital 2 a (new)
Recital 2 a (new)
(2a) The allowances that were backloaded from 2014 to 2016 in accordance with Decision 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 greenhouses gas allowances1a and 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 2013-201b should be directly placed into the market stability reserve, in order to provide stability and give a clear signal with regard to the auctioned amounts of allowances. _____________ 1a OJ L 343, 19.12.2013, p.1. 1b OJ L 56, 26.2.2014, p.56.
Amendment 36 #
Proposal for a decision
Recital 2 a (new)
Recital 2 a (new)
(2a) The allowances that were backloaded from 2014-2016 in accordance with Decision No 1359/2013/EU of the European Parliament and of the Council and Commission Regulation (EU) No 176/2014, should be directly placed into the market stability reserve, in order to provide stability and a clear signal with regard to the auctioned amounts of allowances.
Amendment 55 #
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 62 #
Proposal for a decision
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. The backloaded allowances shall be directly placed into the market stability reserve.
Amendment 63 #
Proposal for a decision
Article 1 – paragraph 1 b (new)
Article 1 – paragraph 1 b (new)
1b. Allowances remaining in the new entrants' reserve at the end of the period, and allowances not allocated due to closures or under the derogation for the modernisation of the electricity sector shall be considered "unallocated allowances". All such unallocated allowances shall be directly placed in the market stability reserve.
Amendment 92 #
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 100 #
Proposal for a decision
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. The backloaded allowances shall be directly placed into the market stability reserve.
Amendment 103 #
Proposal for a decision
Article 1 – paragraph 1 b (new)
Article 1 – paragraph 1 b (new)
1b. Allowances remaining in the new entrants' reserve at the end of the period, and allowances not allocated due to closures or under the derogation for the modernisation of the electricity sector shall be considered "unallocated allowances". All such unallocated allowances shall be directly placed in the market stability reserve.
Amendment 103 #
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 2021 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 120 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20262, 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). A periodic review of the settings of the Market Stability Reserve, two years before the start of every new phase, is necessary in order to ensure the settings remain appropriate whilst preserving certainty for the market.
Amendment 123 #
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 165 #
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 2021 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 211 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20262, 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). A periodic review of the settings of the market stability reserve, two years before the start of every new phase, is necessary in order to ensure the settings remain appropriate whilst preserving certainty for the market.