The European Commission has given approvals for companies in a further five European Union states to exchange CDM CERs for EUAs under the EU carbon market. The move will allow polluters to use cheaper CERs to meet emissions targets ahead of an April 30 compliance deadline.
As per the rules, each polluter which received a free allocation or an entitlement to use international credits in the period from 2008 to 2012 shall be entitled to use international credits during the period 2008 to 2020 up to the amount allowed in the period from 2008 to 2012, or to an amount corresponding to a maximum of 11 % of its allocation in the period from 2008 to 2012, whichever is the higher.
17 EU states were approved on 13 March 2014, covering Austria, Croatia, Cyprus, Estonia, Germany, Greece, Ireland, Latvia, Lithuania, Luxemburg, Malta, Poland, Portugal, Romania, Slovakia, Spain and United Kingdom. Another 5 states were approved on 28 March, covering the Czech Republic, Finland, Hungary, the Netherlands and Slovenia.
The outstanding states are expected to be approved in two more batches. The states covering Belgium, Denmark, France and Italy are expected to be approved next week, and the states covering Bulgaria and Sweden after Easter.
All Member State tables will be uploaded before the end of April.