Brussels to present MSR reform in coming months, EU ETS review proposal at end of Q2
EU climate chief Wopke Hoekstra has indicated that the European Commission will present its planned reform of the Market Stability Reserve (MSR) in the coming months and before a wider scheduled review of the bloc’s Emissions Trading System (ETS), which could now come as early as the end of the second quarter.
Read MoreUPDATE – EU set to boost “firepower” of Market Stability Reserve, accelerate ETS revision work
The European Commission will propose increasing the “firepower” of the Market Stability Reserve (MSR) in a bid to ease EU ETS costs in the near term, and will factor in industry concerns as it finalises changes to free allowance allocation rules, President Ursula von der Leyen has told EU leaders in a letter ahead of this week’s summit.
Read MoreUPDATE – EU energy ministers stress need for short-term ETS interventions, not suspension
Energy ministers from the EU27 underlined the need for short-term measures to address high and volatile prices in the bloc’s Emissions System (ETS) but stopped short of calling for a suspension of the scheme, they told journalists before a meeting of the EU’s Energy Council on Monday.
Read MoreMajor European utilities urge EU leaders to maintain robust ETS, electricity marginal pricing system
Eight major European power producers have urged EU institutions to maintain the marginal pricing electricity system and a robust Emissions Trading System (ETS), in a letter sent this week.
Read MoreBrussels reprimands 19 EU countries for late national building renovation plans
The European Commission has started a legal case against 19 EU countries for failing to submit their plans to decarbonise their building stock in time, the executive said this week.Â
Read MoreEight EU states warn against “fundamental changes” to ETS
Eight EU countries have warned against suspending or making fundamental changes to the bloc’s Emissions Trading System (ETS), calling it the cornerstone of the EU’s climate policy, according to a joint paper seen by Carbon Pulse.
Read MoreAnother €200 mln-plus approved for Belgian CCS project
Belgium received the green light from Brussels to fund a €260 million carbon capture storage (CCS) project in Antwerp on Wednesday.Â
Read MoreItaly’s Meloni confirms plan to raise suspension of EU ETS costs at leaders’ summit
Italian Prime Minister Giorgia Meloni confirmed she will raise the temporary suspension of EU Emissions Trading System (ETS) costs for fossil fuel-fired power at a summit of leaders on Mar. 19.
Read MoreANALYSIS: Extreme high energy prices may boost case for strong EU ETS intervention
Sustained high energy prices over the coming months could boost the case for strong price-easing measures as part of a reform to the EU Emissions Trading Scheme (ETS), according to analysts, as the escalating war in the Middle East continues to heap pressure on Brussels to find a way to lower the bloc’s industrial production costs.
Read MoreEU Commissioner Ribera says suspending ETS would be “huge mistake”
Teresa Ribera, the EU’s commissioner for competition, has said that suspending the bloc’s Emissions Trading System (ETS) would be a “huge mistake”, adding that the scheduled reform of the carbon market starting this summer will be an opportunity to draw lessons on what has worked and what hasn’t in the compliance scheme.
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