TABLE-EU carbon auction calendar for 2012

Tue Nov 20, 2012 10:30am EST

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LONDON, Nov 20 (Reuters) - The number of auctions of European Union carbon
permits have decreased for the rest of this year after aviation sales were
postponed and some early auctions from the Emissions Trading System's (ETS)
third trading period slipped into 2013.
    The EU ETS caps carbon emissions on more than 12,000 industrial and power
plants across the 27-nation bloc, and governments are allowed to sell a certain
number of carbon permits each year.
    The scheme's third trading period starts in 2013 and lasts until 2020.
During that time, power generators operating under the ETS will no longer
receive the bulk of their carbon permits, called EU Allowances (EUAs), for free.
Most will be auctioned.
    Around 40 auctions on behalf of the EU, Germany, Greece and the UK were
scheduled to take place in November and December. Member states were due to sell
120 million Phase Three EUAs before the end of the year to help utilities hedge
their forward power sales.
    However, millions of Phase Three EUAs earmarked for sale this year on behalf
of the EU will now be sold in 2013, German bourse EEX announced on Tuesday,
after some member states failed to prepare the necessary paperwork on time.
 
    Two batches of 5.3 million 2013 EU carbon permits will be sold in first week
of December after Greece completed the necessary paperwork to participate in the
auctions.
    Also on Tuesday, Greece added a sale of 500,000 spot EUAs on Nov. 26.
 Meanwhile, the EU, Germany and Britain have postponed sales of
aviation EUAs after the European Commission delayed non-EU airline inclusion in
the ETS for a year. 
    Below follows an updated table of known carbon auctions for the remainder of
this year.
       
 COUNTRY   PLATFORM  TYPE        DATE        TIME           VOLUME
 EU*       EEX       Phase 3     Every Tues  1200-1400 GMT  minimum
                     spot EUAs   and Thurs   (1300-1500     4.478 mln 
                                 to Dec. 18  CET)           
 Germany   EEX       Phase 3     Every       0800-1000 GMT  3 mln, last
                     spot EUAs   Friday                     auction
                                 through                    2.531 mln
                                 Dec. 14                    
 Greece    ATHEX     Phase 2     Nov. 21,    1200-1400 GMT  500,000
                     EUA         26, 28                     
                     futures                                
 UK        ICE       Phase 3     Nov. 21,    0800-1000 GMT  6.5 mln and
                     spot EUAs   Dec. 5                     5.758 mln
                                                            respectively
 * Participating member states subject to change
Sources: EEX, ATHEX, EU Commission, ICE Futures Europe, UK's Department of
Energy and Climate Change
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