EU Commission to bring forward carbon market reform before 2021

21/05/2014 00:32

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The European Commission is open to hasten an anticipated 2021 start date for the initiation of controls to cut the massive overabundance of permits influencing the EU Emissions Trading System, as stated by the Commission’s major climate official.

According to Jos Delbeke, the Commission approved the institution of a so-called “market stability reserve” before time, a move backed by environment ministers from Germany, Britain, Denmark and Sweden. The Commission suggested in January a new method to diminish the excess of permits should be established when the scheme’s fourth trading phase is scheduled to start in 2021. The oversupply, which has generated a decline in EU carbon prices, had exceeded 2.1 billion units.

Daily (15.07.2019): NBP spot surged by 4.7% on Friday, due to rising gas-for-power demand ahead of an expected 3-day hot spell

15/07/2019 10:29:00

Crude oil prices slightly rose on Friday, after a tropical storm in the Gulf of Mexico caused disruptions in the local production, while tensions between Iran and the West continued to mount. Consequently, Brent crude traded 0.3% higher at $66.72 a barrel. However, forecasts for a global oil supply glut from the International Energy Agency and OPEC limited the gains, with WTI futures remaining almost flat at $60.21 a barrel.

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Masdar, Armenia sign MoU for 500 MW of wind, solar capacity

15/07/2019 08:29:00

Armenian National Interests Fund (ANIF) on Friday signed a memorandum of understanding (MOU) with Abu Dhabi Future Energy Company, better known as Masdar, for the development of 500 MW of renewable energy capacity.

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Polskie LNG hits 1000 LNG tank trucks milestone at Swinoujscie

15/07/2019 08:27:00

Polish LNG terminal operator, Polskie LNG, said it has reached a milestone at the President Lech Kaczyński facility in Świnoujście.

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