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Calculation of interest under the Auctioning Regulation – one day missing? Print E-mail
Sunday, 25 July 2010 11:02


The Article 45(3)(a) of the draft of the Commission Regulation on the timing, administration and other aspects of auctioning of greenhouse gas emission allowances pursuant to Directive 2003/87/EC of the European Parliament and the Council establishing a scheme for greenhouse gas emission allowances trading within the Community (Auctioning Regulation) provides for different method for calculating interest for defaulted payments than commonly accepted contractual standards.

 

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Article 10c(2) of the Directive 2003/87/EC - burdened with internal contradiction? Print E-mail
Friday, 02 July 2010 14:28

As a consequence of the Article 10c(2) of the Directive 2003/87/EC, the funds from auctioning meant for “greening” the economy and gathered at a State level, in these Member States that qualify for and make use of the derogation provided for in the Article 10c (for instance, highly dependent on coal) will be much smaller, than in countries, that already are “green”.

This is a paradox as regards the framework created by the said Directive.

 

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Daily Futures Contracts listed on ECX – assessment under MIFID and Regulation No 1287/2006 Print E-mail
Friday, 11 June 2010 09:40


EUA’s and CER’s Daily Futures Contracts traded on ECX are physically deliverable within two trading days - are they spot contracts or financial instruments triggering regulatory framework of MIFID?

 

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Allocations to district heating and high efficiency cogeneration and tariffs - regulatory problems Print E-mail
Sunday, 13 June 2010 20:53


The free allocations of EUAs to district heating and high efficiency cogeneration in the third trading period will be decreased by way of four different legal measures. The Directive 2009/29/EC thus treats CHP more favorable than electricity generators (which, with exception provided for in Article 10c, receive no free allocation at all) but place them in the much less advantageous position than sectors exposed to “carbon leakage”.

 

Taking into account that CHP and district heating and cooling in some Member States are obliged to apply prices included in regulated tariffs, it seems natural that national regulators, when approving the said tariffs, should take into consideration the costs of the acquisition of CO2 credits. The detailed extent of the inclusion of these costs into the tariff is yet contentious and, as regards the particulars of the evaluation of that cost, there are many details to be explored.

 

The regulatory uncertainty in that regard may negatively influence on any investment plans.

 

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The admissibility of changing individual allocations – enforceability and closure rules Print E-mail
Tuesday, 01 June 2010 21:29


To put it briefly - in that regard the diversity isn’t desirable.

 

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