Details of a proposed emissions trading scheme in the Baltic Sea region will be finalised by April and rubber-stamped by energy ministers in September. This is what emerged from a meeting of the Baltic Sea region energy co-operation (Basrec) in Vilnius, Lithuania this week. The scheme, backed by €10m in funding from the Nordic countries, is to be launched by the end of 2003. Results from a simulated emissions trading scheme, unveiled in May, suggested that trading would have a significant impact on electricity markets (EED 31/05/02). See press release.
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