EU Climate Change Commissioner Connie Hedegaard recently announced that the review of the EU Emissions Trading Scheme (ETS) will be published before the summer break in 2012 rather than 2013. The review will take the shape of a report by the European Commission, which will propose to delay the auctioning of hundreds of millions of third phase emission allowances (EUAs) in September. The delay will be expected to serve as support for the carbon price in the bloc.
In addition, the report will analyse more structural changes, including the setting aside of EUAs or stricter emissions targets.
