EU ETS: ENVI Committee Voted On The Market Stability Reserve

EU Emission Trading System (ETS) ““ Market Stability reserve: On 6 May, Member States and European Parliament (EP) agreed to bring forward the start date of a Market Stability Reserve to 1 January 2019 and this agreement was also backed by the Environment Committee on 26 May. The proposed law would create a system that automatically takes a portion of ETS allowances off the market and into the reserve if the surplus exceeds a certain threshold. In the opposite scenario, allowances could be returned to the market. The surplus of emission allowances, which has been building up in the system since 2009, is estimated at over 2 billion.