EU ETS: EU Regulation on Auctioning Rules for Emission Allowances Published

In today's official journal of the European Union (EU) (OJ L 302 of 18.11.2010, p.1), was published Commission Regulation (EU) No. 1031/2010 of 12 November 2010 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 of the Council establishing a scheme for greenhouse gas emission allowances trading within the Community.

The Regulation provides rules on the design of the auctions under Directive 2003/87/EC(Articles 4-7), auction calendar (Article 8-14), access to auctions (Articles 15-21), appointment of the auction bodies (auctioneer, auction monitor, auction platform) (Articles 22-35), auction market rules (market abuse, payments, transfers, delivery, management of the collateral, fees and costs of auction, market surveillance, transparency and confidentiality (Articles 36-63).

Pursuant to its scope of application (Article 2), the Regulation is applicable to the auctioning of allowances from the aviation sector (Chapter II of the EU ETS Directive) and from stationary installations (Chapter III), from 1 January 2013.