Activities of Bendt BENDTSEN related to 2014/0011(COD)
Plenary speeches (1)
Market stability reserve for the Union greenhouse gas emission trading scheme (A8-0029/2015 - Ivo Belet) DA
Amendments (17)
Amendment 18 #
Proposal for a decision
Recital 1 a (new)
Recital 1 a (new)
(1a) In the light of the need to maintain the incentives in the EU's Emissions Trading System during the negotiations on the Energy Efficiency Directive (2012/27/EU) the European Commission came forward with a declaration to examine options, including among others permanent withholding of the necessary amount of allowances, for action with a view to adopting as soon as possible further appropriate structural measures to strengthen the ETS during phase 3, and make it more effective.
Amendment 24 #
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, thereby preventing the ETS from delivering the necessary investment signal to reduce CO2 emissions in a cost efficient manner. 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 20217. 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-2 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 8COM(2012)652 final. COM(2012)652. 8 Insert reference. Insert reference.
Amendment 32 #
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, thereby preventing the ETS from delivering the necessary investment signal to reduce CO2 emissions in a cost efficient manner. 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 12% of the number of allowances in circulation in year x-2 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 48 #
Proposal for a decision
Recital 4
Recital 4
(4) The Commission should review the functioning of the market stability reserve in relation to its operation in the light of experience of its application. The review of the functioning of the market stability reserve should in particular consider whether the rules on placing allowances in the reserve are appropriate with regard to the aim pursued to tackle structural supply- demand imbalances. The review should be carried out in 2022.
Amendment 53 #
Proposal for a decision
Recital 3 a (new)
Recital 3 a (new)
(3a) The European Council conclusions of 23 and 24 October 2014 on the 2030 Climate and Energy Policy Framework give clear guidance on the continuation of free allocations and carbon leakage provisions after 2020, stating that "the most efficient installations in the sectors at risk of losing international competitiveness should not face undue carbon costs leading to carbon leakage" and that "future allocations will ensure better alignment with changing production levels in different sectors" and "at the same time, incentives for industry to innovate will be fully preserved and administrative complexity will not be increased." The conclusions further underline that both direct and indirect costs for the respective industry sectors will be taken into account as well as the need for affordable energy prices. It is of paramount importance that the Commission reviews the functioning of Directive 2003/87/EC, in that respect.
Amendment 54 #
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 73 #
Proposal for a decision
Recital 4
Recital 4
(4) The Commission should review the functioning of the market stability reserve in relation to its operation in the light of experience of its application. The review of the functioning of the market stability reserve should in particular consider whether the rules on placing allowances in the reserve are appropriate with regard to the aim pursued to tackle structural supply- demand imbalances. The review should be carried out in 2021.
Amendment 73 #
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-2, 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.
Amendment 94 #
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 100 #
Proposal for a decision
Article 2 – paragraph 1 – point 2
Article 2 – paragraph 1 – point 2
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 121 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20262, 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 127 #
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.
Amendment 131 #
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-2, 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.
Amendment 167 #
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(*).” In 2019 and 2020 an additional quantity of allowances as set out in the third column of the table in Annex IV of Commission Regulation (EU) No 176/2014 shall be placed in the reserve.
Amendment 196 #
Proposal for a decision
Article 2 a (new)
Article 2 a (new)
Article 2a Review of Directive 2003/87/EC 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. ________________ + OJ: Please, insert the date: six months from the entry into force of this Decision.
Amendment 216 #
Proposal for a decision
Article 3 – paragraph 1
Article 3 – paragraph 1
By 31 December 20261, 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 225 #
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.