UK sets Phase 2 cap for CO2 emissions at 238 million mt/yr

London (Platts)--29Jun2006

The UK has set a cap for its industry in Phase 2 of the EU Emissions
Trading Scheme at 238 million mt/yr, according to Secretary of State for
Environment, Food and Rural Affairs David Miliband. The UK's cap in Phase 1 of
the EU ETS is 245.4 million mt/yr.
In a statement to the House of Commons Thursday, Miliband said that
the UK will auction up to 7% of its allocation in Phase 2, and will allow
installations to surrender a maximum of 8% of their allowances for compliance
in the form of Certified Emissions Reductions or Emissions Reduction Units
from Clean Development Mechanism or Joint Implementation projects.
The reduction in the NAP for Phase 2 amounts to 7.4 million mt/yr, or
3%. The UK reported verified emissions in 2005 of 242 million mt/yr, some 36.3
million mt (17.6%) more than its 2005 allocation.

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