|Limited powers for intervention on the carbon market granted to the European Commission on 3 July 2013|
|Monday, 08 July 2013 13:15|
The European Parliament's files documenting backloading vote in the plenary on the 3 July 2013 show the European legislative body decided to rein in the executive's ambitions to influence carbon market in the administrative way.
A vote in the full assembly European Parliament on 3 July 2013 supported the legal basis for the European Commission to intervene in the EU ETS (see European Parliament procedure file). The amendments adopted by the European Parliament on 3 July 2013 can be accessed here. The next stage will be the negotiations with the Council.
The original version tabled by the European Commission (see box) envisioned the power granted to the executive to adapt the auctions' timetable in the every EU ETS period i.e. not only in the years 2013-2012 but also in later years. European Parliament restricted this only to the current trading period.
Other EP-imposed executive's confinements are:
1) the premises for intervention: "exceptional circumstances" (not only "where appropriate"), and, moreover,"Where an assessment shows for the individual industrial sectors that no significant impact on sectors or subsectors exposed to a significant risk of carbon leakage is to be expected";
2) the possible number of adaptations - only one-off measure available;
3) adaptation is confined to the maximum number of 900 million allowances.
The regulatory-set purpose for the intervention: "orderly functioning of the market" remained unchanged compared to the original EC proposition.