The European Commission on Tuesday launched a 12-week consultation on how regulations governing the auctioning of allowances in the EU ETS need to be amended in preparation for the introduction of the MSR.

“As of 2019, the Market Stability Reserve is expected to lead to changes in annual auction volumes. Some technical amendments to the Auctioning Regulation are therefore needed,” the Commission said in a note on its website.

“The consultation aims to collect stakeholders’ views on the technical aspects of the implementation of the MSR.”

More than 700 auctions for Phase 3 (2013-2020) emissions allowances have been held to date, putting more than 2 billion carbon units into circulation.

“The consultation will take stock of the experiences so far and help identify any potential areas for further technical improvements,” the Commission added.

The consultation is open for comments until Mar. 15 2016.

By Mike Szabo – [email protected]