UK TO SELL OF 4M ALLOWANCES IN SECOND ETS AUCTION

摘要

The UK will sell off four million emissions allowances in its second auction under Phase 11 of the European Union's Emissions Trading Scheme, although there is still doubt as to whether it will be enough to mitigate the EU's initial over-allocation issue, which it encountered in the first phase of emissions reduction mandates. The March 24 auction, which was announced last week, is the first of six planned for this year, with four more set to be held byrnMarch 2010. The UK's Department of Energy and Climate Change (DECC), which manages the auctions, said it plans to auction an additional 21 million allowances by the end of the 2009. The first auction of the ETS's Phase II, which took place in November 2008, also sold roughly four million allowances for a total of ￡54 million. The UK plans to reduce it's greenhouse gas emissions roughly 10 percent of 2005 levels during its second phase, which runs from 2008 to 2012.