EURELECTRIC welcomes the publication by the European Commission today of its proposal to clarify the feasibility of a rapid, short-term adjustment to the EU Emissions Trading Scheme (ETS). EURELECTRIC has repeatedly called for urgent action to rebalance ETS supply and demand in order to ensure that the ETS can provide a meaningful signal for decarbonisation (see links below). Today's proposal is a welcome sign that the Commission is prepared to take the necessary steps to restore confidence in the ETS.
"EURELECTRIC is convinced of the necessity to achieve decarbonisation in the most cost-efficient way and remains committed to the ETS as the key driver of this process. Today's proposal from the Commission is a good step forward, not least because it helps resolve some of the uncertainty and speculation we've experienced in recent weeks. EURELECTRIC will analyse the proposals in depth over the summer and we look forward to participating in the consultation," commented Jesse Scott, Head of Environment and Sustainable Development Policy at EURELECTRIC.
In calling for urgent action EURELECTRIC also looks beyond today's proposals. Above all we call on the EU institutions to work for early agreement on a firm intermediate CO2 emission reduction target for 2030. This signal is essential for a well-functioning ETS in the longer term.