1. The European Parliament (2003) passed a law3 to4 set up the EU ETS in October 2003 and regulated the first and second trading phase. Here are the 4 phases of the EU ETS. The allowance price per ton of carbon dioxide (CO 2) in the first phase of the European Union Emissions Trading Scheme (EU ETS) caught many observers by surprise.It started at around €5 but quickly increased to a range of €20–30, where it remained for over a year. The EU ETS is a complex, multi-layered scheme which facilitates and regulates the sale and purchase of carbon emissions in Europe. Subject to, and without prejudice to its legal challenge against the Commission, the UK has determined that 736.3 MtCO 2 will initially be allocated during Phase I of the EU ETS.6 Paragraph 1.11 2. The European Union’s (EU) Emissions Trading Scheme (ETS) is a cornerstone of the EU’s efforts to meet its obligation under the Kyoto Protocol. Phase I (1 January 2005 to 31 December 2007) This phase is complete. To … EU ETS: key facts and figures ~ 40% of EU's GHG emissions Phase 1: 2005-2007 Phase 2: 2008-2012 Phase 3: 2013-2020 Phase 4: 2021-2030 by default continuing in 10-year trading periods thereafter ETS GHG reductions: -21% by 2020 -43% by 2030 CO2, N2O, PFCs 57% auctioning Electricity sector: 100% auctioning in principle, optional In January 2020, the EU ETS The revision of the system’s framework, completed in 2018, will be implemented with the start of the fourth trading phase in January 2021. The EU emissions trading system (EU ETS) is an integral part of the EU's contribution to this framework. Phase 3 The EU ETS is now in its third phase, running from 2013 to 2020 with significant changes from phase 1 and 2 in order to strengthen the system. There were many unknowns in terms of its concept and operation. The ‘new’ ETS starting in 2013 has a single EU-wide cap, which will decrease The Member States had the freedom to decide on how many EUAs to allocate in EU ETS phase 1 Abatement in phase 1 of particular interest, because emissions were significantly lower than cap But: significant CO 2 price for almost two years until „slack condition‟ became recognised In this period, did companies reduce emissions in response to the carbon price? The EU ETS began in January 2005 and includes the 27 countries of the European Union. The first phase of the EU ETS was a pilot phase to test the system. Experiences from phase 1 and 2 have greatly helped the European Commission to propose and adopt radical changes to the EU ETS, which were not even thinkable before its initial adoption in 2003. The goals of Phase 1 running from 2005 to 2007 was thus to test how the system would affect the concerned sectors within and outside the EU with its then 27 Member States. The EU ETS: Phase II (2008-2012) Phase II of the EU ETS ran from from 2008-2012 (the commitment period of the Kyoto Protocol). Further details around this phase can be … Allocations of allowances will be made in a two-stage Phase 1 from 2005-2007 was intended to be a trial period to work the bugs out of the system; however, in all respects, it is a real cap-and-trade system. Introduction. During this phase, every EU member state: Developed a National Allocation Plan (NAP) Member State proposed a limit ('cap') on total emissions from relevant installations 2.1 Phase 1: 2005-2007. The program is run in two phases. It covers more than 10,000 energy intensive facilities across the 27 EU Member countries; covered entities emit about 45% of the EU’s carbon dioxide emissions. evolved. EU Emissions Trading Scheme - Approved National Allocation Plan May 2005 7 Summary 1. This briefing gives an overview of the EU ETS and, following the decision of the UK to leave the now approaching the end of the third trading phase, the EU ETS has gone through several reforms. Phase 1 of EU ETS was launched in 2005 as the first such system ever.

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