MEPs approve crucial EU ETS market stability reform

MEPs have voted for early adoption of a market stability reserve aimed at bringing surplus allowances in the EU emissions trading system under control and raising the carbon price

MEPs have voted for early adoption of a market stability reserve (MSR) aimed at bringing surplus allowances in the EU emissions trading system (EU ETS) under control and raising the carbon price.

The text negotiated with the council was approved comfortably in July by 495 votes to 158, with 49 abstentions.1

The measure, which is subject to final approval from the Council of Ministers in September, will take effect from 1 January 2019. As of that date, the 900 million surplus EU allowances (EUAs) that have accumulated during the recession and through over-allocation will be placed directly in the reserve.

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