The European Commission has proposed delaying or "back-loading" auctions of 900 million carbon allowances until 2019-20 in a bid to boost prices in the EU's beleaguered carbon market.
The figure is the middle option from three the commission put forward in July – 400 million, 900 million and 1.2 billion. It was chosen following consultation with member states and stakeholders, the commission said on Monday.
Member states must now approve this figure through an amendment to EU emissions trading system (ETS) auctioning regulation. The decision will be taken by the EU's Climate Change Committee, which is made up of member state representatives.
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