EU Legislation, Initiatives, etc.
DECC: The UK Government intends to hold its second auction in Phase II of the European Union's Emissions Trading System on 24 March 2009. The auction will comprise a competitive bidding facility only. The bidding window will open from 8am and close at 10am on 24 March 2009.
The EU ETS sets a cap on the total emissions from the main industrial sectors across Europe, covering more than 10,000 installations in the energy and industrial sectors. Each installation has to purchase allowances for every tonne of carbon they emit.
The number of allowances to be auctioned will be announced at least one month before the date of the auction. In 2009 the UK plans to auction a total of 25 million allowances.
