The Community Emissions Trading Scheme, setting out the conduct and terms of allocation of allowances in the UK’s auctions in Phase II of the EU ETS was published by HM Treasury today.

Auctioning off the right to emit carbon dioxide is expected to net the UK government nearly £2billion over the next four years.

The Scheme sits below the Regulations governing auctions and sets out the conduct and terms of allocation, along with the detailed design of the auctions, and the requirements in order to participate.

Government aims to hold the first auction before the end of the year with confirmation of the date at least two months in advance.

This version of the Scheme covers competitive bids only, which must be placed through an intermediary. Government is aiming to have the non-competitive element of the auction in place for early 2009. The Scheme sets out how to apply to become an intermediary.

A full copy of the Scheme is available at:

http://www.hm-treasury.gov.uk/consultations_and_legislation/community_emissions/consult_community_emissions.cfm

Posted: 07|30|08 at 9:20 am. Filed under: UK News.