Five countries issued a total 2.7 million free EUAs to industry for their 2016 emissions over the past fortnight, the European Commission said in its final allocation update for this year.

The data showed that a total 731.09 million free allowances for 2016 have now been handed out by EU member states.  That represents around just over 97% of the total quota of 752.92 million that has been earmarked to heavy-emitting industry for this year.

France accounted for 1.5 million of the last fortnight’s issuances, having now handed out 74.69 million units out of its 2016 quota of 75.67 million.

Hungary issued a further 1 million, though the data showed that the country had still only allocated 93.8% out of its total limit of 9.92 million units.

Of the remaining EUAs dished out since Apr. 28, some 140,000 were doled out by the UK and around 30,000 each by Italy and Latvia.

The UK and Italy made up the bulk of the yet-to-be-allocated EUAs, with both governments still allowed to hand out more than 6.7 million each from their respective 2016 quotas of 61.92 million and 69.74 million.

Most other nations had completed their full allocations, or were very close to it, though Portugal and Finland were also lagging slightly with completion rates of around 94% each, which translated into a combined 1.87 million allowances.

The latest data, which the Commission said represents this year’s final update, give another official glimpse into how governments are progressing in their free carbon permit hand-outs.

Market participants watch the allocations closely as they can weigh on prices should some companies in need of cash decide to sell parts of their allowance inventories upon receiving them.

By Mike Szabo – mike@carbon-pulse.com