As the recession hit Europe received the EU’s system for emissions trading (ETS), a nasty blow. The prices of emission allowances fell sharply as the demand was dramatically less. The result was a large surplus, which has continued to keep prices down.
The deal, which was completed in Brussels late on Tuesday evening, described as a victory for the European Parliament in the negotiations with Council.
– We wanted an early start so as possible, ideally in 2016, which we realized was impossible. But now backed the Council from 2021, says MEP Fredrick Federley (C).
Under the new agreement produced from 2019 a “market stabilization” reserve, where it locks into 900 million allowances have been frozen and the 600 million who have not yet been distributed. Become the new market surplus reserve should be filled in further.
The deal will also benefit Swedish industry.
– Sweden has the cleanest steel plants in Europe and in the world. They have the best performance with the lowest emissions should be rewarded by the system, says Federleys.
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