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In 2011 and 2012, the European Energy Exchange (EEX) will auction off a total volume of 1.7 million EU emission allowances (EUA) on behalf ofthe Lithuanian ministry of the environment. These allowances are volumes from the Lithuanian new entrants‘ reserve (NER) for the second phase of EU emissions trading (2008 to 2012) which are not needed. The Lithuanian ministry of the environment awarded EEX the contract in the context of a corresponding invitation to tender on 27 October 2011.
The first EUA auction for Lithuania will take place on the EEX Spot Market on13 December 2011. The second auction is scheduled for January 2012 The volume tobe sold in each auction amounts to 850,000 EUAs.“
We are satisfied to cooperate with EEX as the most experienced EUA exchange trading platform and looking forward towards successful results of the upcoming auctions of the EUAs. The revenues from the auctioned EUAs will be transferred into the Climate Change Special Programme and will be used for financing of energy efficiency projects, such as renovation of multi-flat residential buildings, which reach energy efficiency class D and whose achieved energy savings exceed 40 percent. ” says Vice-Minister of Environment Dr. Aleksandras Spruogis.“We are pleased about the confidence placed in us and look forward to the cooperation with the Lithuanian authorities. With our auction model we offer a simple, transparent and safe channel for marketing surplus NER volumes. At the same time, this also enables EU member states to gather experience in auctioning with a view to the third phase of EU emissions trading”, explains Peter Reitz, Chief Executive Officer of EEX AG.
The option of auctioning EUAs of this type is available to all EU member states that still have unallocated volumes from their new entrants’ reserve at the time of the expiry of the second trading phase of EU emissions trading (end of 2012). Every EU member state has such a reserve and has reserved a certain quantity of emission allowances for new installations and/or capacity extensions in its national emissions budget.
In addition to the auctions for Lithuania, EEX also carries out the EUA primary market auctions for Germany (since 2010) and the Netherlands (in 2011 and 2012). Moreover, EEX has recently been selected as a cooperation exchange for the NER300 programme of the European Investment Bank.
Together, EEX and Eurex offer their participants a platform for trading in emission allowances. In the framework of this cooperation, which was launched in December 2007, Eurex participants can trade the derivatives products regarding emission allowances listed on EEX via their existing infrastructure and a simplified admission process.
