11 Amendments of Stefan ECK related to 2014/0011(COD)
Amendment 21 #
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 21027 identified the need for measures in order to tackle structural supply-demand imbalances. The impact assessment on the 2030 climate and energy policy framework8 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 of phase 4 starting in 20212017. 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 1233% of the number of allowances in circulation in year x-21 minus 833 million should 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 COM(2012)652 final. 8 Insert reference.
Amendment 39 #
Proposal for a decision
Recital 3
Recital 3
(3) Furthermore, in addition to the establishment of the market stability reserve, a few consequential amendments should be made to Directive 2003/87/EC to ensure consistency and smooth operation of the ETS. In particular, the operation of Directive 2003/87/EC may lead to large volumes of allowances to be auctioned at the end of each trading period which can undermine market stability. Accordingly, in order to avoid an imbalanced market situation of supply of allowances at the end of one trading period and the beginning of the next with possibly disruptive effects for the market, provision should be made for the auctioning of part of any large increase of supply at the end of one trading period in the first two years of the next period. Moreover, in order to avoid an imbalanced market situation of supply of allowances, the backloaded allowances should be placed directly into the market stability reserve.
Amendment 87 #
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 105 #
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 118 #
Proposal for a decision
Article 1 – paragraph 3
Article 1 – paragraph 3
3. InBy 30 June of each year beginning in 20217, a number of allowances equal to 1233% 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, minus 833 million shall be placed in the reserve.
Amendment 136 #
Proposal for a decision
Article 1 – paragraph 4
Article 1 – paragraph 4
4. In any year, if the total number of allowances in circulation is lower than 400 million, 100 million allowancesas published in May year x is lower than 400 million, 33 % of the difference between 833 million and the total number of allowances in circulation in year x-1, as published in May year x, shall be released from the reserve. In case less than 100 million allowances are in the reserve, all allowances in the reserve shall be released under this paragraph.
Amendment 161 #
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 [OPEU please insert number of this Decision when known] of the European Parliament and of the Council(*).”
Amendment 179 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 b (new)
Article 2 – paragraph 1 – point 3 b (new)
Directive 2003/887/EC
Article 10 – paragraph 3 – subparagraph 1 – introductory wording
Article 10 – paragraph 3 – subparagraph 1 – introductory wording
3b. In Article 10(3), the introductory wording of the first subparagraph is replaced by the following: "3. Member States shall determine the use of revenues generated from the auctioning of allowances. At least 50 % of the revenues generated from the auctioning of allowances referred to in paragraph 2, including all revenues from the auctioning referred to in paragraph 2, points (b) and (c), or the equivalent in financial value of these revenues, shouldall be used for one or more of the following:"
Amendment 184 #
Proposal for a decision
Article 2 – paragraph 1 – point 3 f (new)
Article 2 – paragraph 1 – point 3 f (new)
Directive 2003/87/EC
Article 10 – paragraph 4 – subparagraph 1
Article 10 – paragraph 4 – subparagraph 1
3f. In Article 10(4), the first subparagraph is replaced by the following: "4. By 30 June 2010, the Commission shall adopt a regulation on timing, administration and other aspects of auctioning to ensure that it is conducted in an open, transparent, harmonised and non- discriminatory manner. To this end, the process should be predictable, in particular as regards the timing and sequencing of auctions and the estimated volumes of allowances to be made available. Where an assessment shows for the individual industrial sectors that no significant impact on sectors or subsectors exposed to a significant risk of carbon leakage is to be expected, the Commission may, in exceptional circumstances, adapt the timetable for the period referred to in Article 13(1) beginning on 1 January 2013 so as to ensure the orderly functioning of the market. The Commission shall make no more than one such adaptation for a maximum number of 900 million allowances. These allowances shall be placed directly into the market stability reserve established by Decision [OPEU please insert number of this Decision when known]."
Amendment 202 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20260, 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 221 #
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.