Most users can create an account for the registry from today and apply to open a trading account. Other users will be able to register from 4 May. The documents necessary to set up an account in the ETS were disclosed last week, both to confirm identity and to demonstrate ‘fit and proper’ status.
The regime technically entered force on 1 January but had been effectively non-functional until now. That will remain the case until trading commences later in the year. The first auction of allowances will take place on 19 May.
The Environment Agency (EA) has revised the charges that were applicable for participating in the EU Emissions Trading System, with some rising and others falling. The overall impact will be a small reduction in the regulator’s income from the scheme, it said in a response to consultation published on Thursday. Charges will rise annually in line with the Consumer Price Index.
For installations, applying for an emissions trading permit will cost £1,232 – composed of £948 for permit determination and £284 for the opening of an operator holding account in the registry.
Their annual subsistence charge will be £3,046, with reductions for those without free allocations, hospitals and small emitters.
Time spent by EA officers on determining reportable emissions will be charged at £125 per hour.
The fees applicable for aviation will be somewhat lower, with an application costing £1,110 and the subsistence charge set at £2,425.
Electricity generators in Northern Ireland remain in the EU ETS by virtue of the EU Withdrawal Agreement.