Diario Oficial de la Unión Europea del 15/5/2023 - Comunicaciones e Informaciones
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Source: Diario Oficial de la Unión Europea - Comunicaciones e Informaciones
15.5.2023
EN
Official Journal of the European Union
C 172/1
II
Information
INFORMATION FROM EUROPEAN UNION INSTITUTIONS, BODIES, OFFICES
AND AGENCIES
EUROPEAN COMMISSION
COMMUNICATION FROM THE COMMISSION
Publication of the total number of allowances in circulation in 2022 for the purposes of the Market Stability Reserve under the EU Emissions Trading System established by Directive 2003/87/EC
2023/C 172/01
1. INTRODUCTION
In 2015, the European Parliament and the Council of the European Union EU adopted Decision EU 2015/1814 1 to create a Market Stability Reserve under the EU Emissions Trading System ETS established by Directive 2003/87/EC 2.
The purpose of the Market Stability Reserve is to avoid the EU carbon market operating with a large structural surplus of allowances and the associated risk that this prevents the EU ETS from delivering an investment signal needed to achieve the EUs emission reduction target cost-efficiently. The purpose of the Reserve is also to make the EU ETS more resilient to supply-demand imbalances, thus enabling the EU carbon market to function smoothly. The Market Stability Reserve began operating in January 2019.
Under Article 14 of Decision EU 2015/1814, the Commission publishes the total number of allowances in circulation every year for the purposes of the Market Stability Reserve, by 15 May the subsequent year. This figure determines whether allowances are withdrawn from the auction volume and placed in the Reserve or released from the Reserve and auctioned. Publishing the total number of allowances in circulation is therefore an important feature of the operation of the Market Stability Reserve and the EU ETS.
On 13 May 2022, the Commission published the total number of allowances in circulation in 2021, which amounted to 1 449 214 182 3. Accordingly, 347 811 404 allowances were to be placed in the Market Stability Reserve from 1 September 2022 to 31 August 2023.
This Communication is the seventh publication of the total number of allowances in circulation for the purposes of the Market Stability Reserve and concerns the year 2022. It details the underlying calculation and the number of allowances that will be placed in the Reserve from 1 September 2023 to 31 August 2024. It also indicates the number of allowances in the Reserve that became invalid on 1 January 2023.
1 Decision EU 2015/1814 of the European Parliament and of the Council of 6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC
OJ L 264, 9.10.2015, p. 1.
2 Directive 2003/87/EC of the European Parliament and of the Council of 13 October 2003 establishing a scheme for greenhouse gas emission allowance trading within the Community and amending Council Directive 96/61/EC OJ L 275, 25.10.2003, p. 32.
3 C2022 2780 - Communication from the Commission - Publication of the total number of allowances in circulation in 2021 for the purposes of the Market Stability Reserve under the EU Emissions Trading System established by Directive 2003/87/EC and of the number of unallocated allowances during the period 2013-2020 2022/C 195/02 OJ C 195, 13.5.2022, p. 2. Corrigendum to the Communication C2022 4874.
