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EUAs' validity


Rules on carbon allowances' validity between trading periods of the EU ETS change significanty as from 2021.


European Commision's Proposal for a Directive of the European Parliament and of the Council amending Directive 2003/87/EC to enhance cost-effective emission reductions and low-carbon investments of 15 July 2015 (COM(2015) 337 final) 2015/148 (COD) amends Article 13 of the EU ETS Directive - as follows in the boxes.


The effect is allowances no more will be replaced between periods, but will be valid indefinitely.


See here more on the post-2020 EU low carbon framework.



EU ETS Directive - third trading period (2013 - 2020)


"Article 13 Validity of allowances


1. Allowances issued from 1 January 2013 onwards shall be valid for emissions during periods of eight years beginning on 1 January 2013.


2. Four months after the beginning of each period referred to in paragraph 1, allowances which are no longer valid and have not been surrendered and cancelled in accordance with Article 12 shall be cancelled by the competent authority.


Member States shall issue allowances to persons for the current period to replace any allowances held by them which are cancelled in accordance with the first subparagraph."





EU ETS Directive - fourth trading period (2021-2030)


"Article 13 Validity of allowances


Allowances issued from 1 January 2013 onwards shall be valid indefinitely. Allowances issued from 1 January 2021 onwards shall include an indication showing in which ten-year period beginning from 1 January 2021 they were issued, and be valid for emissions from the first year of that period onwards."





Last Updated on Wednesday, 06 April 2016 19:43


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