EU member states are still to hand out 255 million EUAs to industry as part of 2015 free allocations, or around 33% of the total 789 million allocated for them this year, the European Commission said on Wednesday.
In a note on its website, the EU executive said just 34 million EUAs had been handed out since its initial update on March 3.
The bulk of the outstanding allowances are to be handed out to companies in Finland, Italy, Poland and Spain, whose governments are yet to issue any of their 2015 allocation.
At current spot market prices the 535 million issued so far would be worth €3.56 billion.
The status of the allocation is closely watched by market participants as many factories opt to sell a portion of their EUAs when they arrive in their accounts, putting prices under pressure.
The EC said it will publish a further update on Mar. 31.
By Ben Garside – email@example.com