Perry announces short EU ETS compliance deadline extension

jueves, 14 de marzo de 2019 | Trading

The government has announced that it will allow additional time for UK participants in the EU emission trading scheme to meet their compliance obligations ahead of Brexit

In a written ministerial statement published yesterday, clean growth minister Claire Perry revealed that UK operators will be granted an 11-day extension to the deadline for surrendering their emissions allowances for 2018.

The short extension will mean operators will have until the 26 March to comply – three days before EU exit day. However, they must still report their emissions for 2018 to their regulator by 11 March, Perry wrote.

The EU ETS covers around 1,000 installations and approximately 140 aircraft operators in the UK and covers approximately 45% of the EU's greenhouse gas emissions, according to Perry’s statement.

To meet their obligations, EU ETS participants are required to monitor their emissions during each calendar year, and at the end of each reporting year, surrender one emissions allowance for every tonne of carbon dioxide equivalent (CO2e) they have emitted.

Perry wrote: “Our participation in the EU ETS has shown the benefits of carbon pricing, which gives emitters a choice to reduce their emissions where it is economic to do so, achieving our environmental goals in the least-cost way to society.”

But the UK’s membership in the EU ETS post-Brexit is uncertain.

The government is drawing up plans for a future UK-wide carbon pricing system linked with the EU ETS in the event that a Brexit deal is agreed.

But if the UK leaves the EU without a deal on 29 March, a UK-wide £16 per tonne carbon tax would replace the EU ETS from 1 April, Perry told a Lords committee last month, operating until such a time as a UK ETS system, linked to the EU’s system, is in place.


Source: ENDS Report