Enigin Update - EU add ETS Option to new Energy Efficiency Law
THE European Union (EU) looks to have ended the internal dispute over a new energy efficiency law and the impact it would have on its Emission Trading Scheme (ETS).
We reported last week the howls of protest from certain sectors of the EU regarding the new law with claims that it would undermine the EU’s ETS, with some claiming it would cut the Carbon price dramatically, or even completely.
Now there is an option within the new energy efficiency law, to be launched tomorrow, to withhold carbon permits in the ETS to prevent a decline in prices.
The EUs regulatory arm, the European Commission, agreed on the law to improve energy efficiency and help fight climate change, but the energy efficiency regulation was regarded as being so effective in reducing carbon emissions that it would cut demand for carbon emission permits, depressing prices.
The latest draft of the rules recognises the need for an option to "recalibrate" the ETS if carbon prices fall too low, an anonymous EU source said.
The source explained that the law will now enable the commission to set aside some carbon permits during the next phase of the EU emissions trading system from 2013, if the new energy efficiencies dent demand for permits.
To comply with the law, or even to benefit form the ETS, businesses and organisations in Europe could do no better than utilise energy efficiency technology and solutions from Enigin - reducing emissions, cutting energy use and saving money.
The range of leading edge technology from Enigin is available exclusively through the global network of Enigin Distributors.
Picture of the European Commission by Tiseb
