The European Council (EC) has announced that EEA EFTA (European Economic Area European Free Trade Association) states, namely Iceland, Liechtenstein and Norway, will be able to auction their emission allowances on the common auction platform of the EU Emissions Trading System (EU ETS) as of June 2019.
The countries have had their share of allowances in the EU ETS since 2013. Until the end of 2018, they were not able to auction allowances as the EEA Agreement had to be amended to allow them to participate in the Joint Procurement Agreement for the common auction platform.
The European Energy Exchange (EEX) will soon publish an auction calendar including the EEA EFTA states volumes.
The EU Emissions Trading Scheme puts a cap on the CO2 emitted by more than 11,000 EU installations in the power sector and energy-intensive industry through a market-based cap and trade system. The scheme covers around 45% of the EU's GHG (greenhouse gas) emissions and operates in 31 countries.
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