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NER 300 sale could start this week

The amended registry regulation was published on Tuesday in the Official Journal of the EU. The regulation enables the sale of 300 million EU emission allowances from the new entrants reserve (NER) for the third phase of the European Emissions Trading Scheme (EU ETS).

The Commission regulation establishing a single registry for the trading period commencing on 1 January 2013, and subsequent trading periods, of the EU ETS enables the transfer of allowances from NER 300 to the European Investmenet Bank (EIB) which is tasked with their sales.

Market participants expect the EIB to start the sale this week after the allowances are transferred by the Commission.

The European Commission said last week that the allowances will be delivered swiftly after the regulation enters into force which took place on Wednesday.

The EIB said before it intends to sell 200 million allowances by the end of 2012, and the sale of the remaining 100 million allowances will be compeleted by 2013.

The sale will be carried out on the European Energy Exchange (EEX) in Leipzig and ICE Futures Europe in London.

Source: European Commission