EU member states made little progress in handing out free 2015 EUAs to industry over the past two weeks, European Commission said on Tuesday.
Governments have handed out 596.9 million EUAs so far this year, or around 60,000 since Mar. 31, the EC said in an update on its website.
That’s around 76% of the total 789.3 million due to be distributed for free to industrial manufacturers to help them cover their 2015 emissions.
Most countries have now completed the bulk of their allocations but Italy, Poland and Finland lag, having handed out fewer than 100,000 between them.
Traders said the absence of the remaining allocations could keep a lid on EUA price rises, making bullish speculators wary of the impending supply due to hit the market.
Additionally, six eastern European member states are due to hand their utilities up to 104.2 million free 2014-vintage EUAs in the next fortnight to help them comply with the Apr. 30 EU deadline to hand in allowances for last year’s emissions.
Analysts have warned that could also put downward pressure on EUA prices if all the allowances come at once.
The status of the annual allocation to industry 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 Apr. 28