German CO2 auctions set to resume in Feb: European Commission

08/01/2019 11:39 Renewable

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German auctions of carbon dioxide allowances are expected to resume in February, the European Commission said late Monday, after a halt since November 2018 due to licensing issues.

The news means February will see an increase in primary supply of carbon allowances compared with January's level as German auctions resume, taking into account a volume of 21.8 million mt held over from 2018.

 

"The amendment to the ETS Auctioning Regulation re-listing Germany's opt-out auction platform entered into force on January 5," the EC said in a statement late Monday.

 

"As a result, Germany will be able to resume auctions on its appointed opt-out platform, the European Energy Exchange AG (EEX)," the EC said.

 

"The Commission expects the auctions to resume in February 2019," it said.

 

Germany's EEX was unable to complete the renewal of its licensing arrangement to auction carbon allowances on behalf of the German government until the EU had amended its Auctioning Regulation, which meant Germany could not hold 2018 auctions after November 14, with the last held November 9.

 

The 2019 auction calendar for Germany is expected to be published in due course, the EC said.

 

The calendar will include the 21.8 million mt volume from German auctions that have not taken place since November 14, it said. German auctions have taken place every Friday morning thus far, and the format is expected to continue this year.

Source: www.spglobal.com

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