EU Commission to bring forward carbon market reform before 2021

21/05/2014 00:32


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 (16.10.2019): The EUAs spiked by around 6.4% on Tuesday after an optimistic breakthrough in Brexit process

16/10/2019 11:14:00

Crude oil prices extended their fall on Tuesday, as the uncertain outlook for the Sino-American trade negotiations, coupled with indicators of an economic slowdown in China fueled worries over global crude demand. The high level of U.S. crude stocks added pressure on prices. Consequently, WTI futures lost 1.5% to close at $52.81 a barrel, while Brent crude traded 1% down at $58.74 a barrel. However, hopes for a timely Brexit deal and signals of possible oil supply cuts from OPEC reduced losses.


‘UK needs 120GW of new low carbon capacity to go net zero by 2050’

16/10/2019 10:50:00

The UK’s legally-binding target to reach net zero emissions by 2050 will require more than 120GW of new low carbon capacity.


PGNiG makes oil and gas discovery at Skarv field in Norwegian Sea

16/10/2019 10:46:00

PGNiG Upstream holds 40% share in the PL838 license, which is located in the Norwegian Sea and is directly adjacent to the Skarv and Ærfugl licenses