13 Amendments of Caterina CHINNICI related to 2014/0011(COD)
Amendment 33 #
Proposal for a decision
Recital 2
Recital 2
(2) The report from the Commission to the European Parliament and the Council on the state of the European carbon market in 21021 identified the need for measures in order to tackle structural supply-demand imbalances. The impact assessment on the 2030 climate and energy policy framework2 indicates that this imbalance is expected to continue, and would not be sufficiently addressed by adapting the linear trajectory to a more stringent target within this framework. A change in the linear factor only changes gradually the cap. Accordingly, the surplus would also only gradually decline, such that the market would have to continue to operate for more than a decade with a surplus of around 2 billion allowances or more. In order to address this problem and to make the European Emission trading System more resilient to imbalances, a market stability reserve should be established. To ensure regulatory certainty as regards auction supply in phase 3 and allow for some lead-time adjusting to the introduction of the design change, the market stability reserve should be established as during phase 3, so as to establish the benefits thereof before the launch of phase 4 starting in 2021. In order to preserve a maximum degree of predictability, clear rules should be set for placing allowances into the reserve and releasing them from the reserve. Where the conditions are met, beginning in 20217, allowances corresponding to 12% of the number of allowances in circulation in year x-21 should therefore be put into the reserve. A corresponding number of allowances should be released from the reserve when the total number of allowances in circulation is lower than 400 million. __________________ 7 8COM(2012) 652 final. COM(2012)0652. 8 Insert reference. Insert reference.
Amendment 38 #
Proposal for a decision
Recital 2 a (new)
Recital 2 a (new)
(2a) The auctioning of the allowances back-loaded to 2019 and 2020 in accordance with Commission Regulation (EU) No 176/2014 of 25 February 2014 amending Regulation (EU) No 1031/2010, so as to determine in particular the greenhouse gas emission allowance volumes to be auctioned in 2013-2020,1a would be counterproductive. Accordingly, the back-loaded allowances should be placed in the market stability reserve when it becomes operational. _______________ 1a OJ L 56, 26.2.2014, p 11.
Amendment 57 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) In pursuing the goal of creating a single energy market, it is necessary to overcome the distortions caused by the current funding mechanism in favour of sectors or sub-sectors deemed to be at significant risk of carbon leakage owing to the knock-on effect on electricity prices of greenhouse gas emissions costs. Further amendments to Directive 2003/87/EC are therefore necessary and the Commission should accordingly propose harmonised arrangements at EU level, different from the mechanism currently governed by state aid rules, which could enter into force at the start of phase 4 in 2021.
Amendment 66 #
Proposal for a decision
Recital 3 b (new)
Recital 3 b (new)
(3b) EU-harmonised measures different from the current state aid mechanism should be put in place so as to secure a fully level playing field, and to offset, in all Member States, carbon costs passed on through electricity bills.
Amendment 96 #
Proposal for a decision
Article 1 – paragraph 1
Article 1 – paragraph 1
1. A market stability reserve is established, and shall operate from 1 January 20217.
Amendment 101 #
Proposal for a decision
Article 1 – paragraph 1 a (new)
Article 1 – paragraph 1 a (new)
1a. The Commission shall ensure that the allowances back-loaded in accordance with Regulation (EU) No 176/2014 are placed in the market stability reserve as of 1 January 2017.
Amendment 106 #
Proposal for a decision
Article 1 – paragraph 2
Article 1 – paragraph 2
2. The Commission shall publish the total number of allowances in circulation each year, by 15 May of the subsequent year. The total number of allowances in circulation for year x shall be the cumulative number of allowances issued in the period since 1 January 2008, including the number issued pursuant to Article 13(2) of Directive 2003/87/EC in that period and entitlements to use international credits exercised by installations under the EU emission trading system in respect of emissions up to 31 December of year x, minus the cumulative tonnes of verified emissions from installations under the EU emission trading system between 1 January 2008 and 31 December of year x, any allowances cancelled in accordance with Article 12(4) of Directive 2003/87/EC and the number of allowances in the reserve. No account shall be taken of emissions during the three-year period starting in 2005 and ending in 2007 and allowances issued in respect of those emissions. The first publication shall take place by 15 May 20176.
Amendment 119 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. In each year beginning in 20217, a number of allowances equal to 12% of the total number of allowances in circulation in year x-21, as published in May year x-1, shall be placed in the reserve, unless this number of allowances to be placed in the reserve would be less than 100 million 2021.
Amendment 168 #
Proposal for a decision
Article 2 – paragraph 1 – point 1
Article 2 – paragraph 1 – point 1
Directive 2003/87/EC
Article 10 – paragraph 1
Article 10 – paragraph 1
2. “1. From 20217 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Article 10a and 10c and are not placed in the market stability reserve established by Decision [OPEUJ: please insert number of this Decision when known] of the European Parliament and of the Council(*).”
Amendment 182 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 d (new)
Article 2 – paragraph 1 – point 3 d (new)
Directive 2003/87/EC
Article 10 – paragraph 3 – point - a (new)
Article 10 – paragraph 3 – point - a (new)
3d. In Article 10(3), the following point shall be inserted: "(-a) to establish a fund dedicated to the innovation and modernisation of energy- intensive installations, in particular in the sectors and sub-sectors referred to in Article 10a(15);"
Amendment 205 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 202619, the Commission shall, on the basis of an analysis of the orderly functioning of the European carbon market, review the market stability reserve and submit a proposal, where appropriate, to the European Parliament and to the Council. The review shall pay particular attention to the percentage figure for the determination of the number of allowances to be placed into the reserve according to Article 1(3) and the numerical value of the threshold for the total number of allowances in circulation set by Article 1(4).
Amendment 218 #
Proposal for a decision
Article 3 – paragraph 1 a (new)
Article 3 – paragraph 1 a (new)
By ...* , the Commission shall review Directive 2003/87/EC, taking into account the conclusions of the European Council of 23 and 24 October 2014, in particular with regard to carbon leakage provisions, and the continuation of free allocations, better reflecting changing production levels and incentivising the most efficient performance taking into account direct and indirect carbon costs, and if appropriate shall, in accordance with the ordinary legislative procedure, submit a proposal to the European Parliament and the Council. Both direct and indirect costs will be taken into account so to ensure a global and EU level playing field. __________________ *OJ: Please insert the date: 18 months after the entry into force of this Decision.
Amendment 226 #
Proposal for a decision
Article 4 – paragraph 1
Article 4 – paragraph 1
Article 10(1) of Directive 2003/87/EC as amended by Directive 2009/29/EC shall continue to apply until 31 December 202016.