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X-WR-CALDESC:Events for ERCST
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DTSTART:20170101T000000
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BEGIN:VEVENT
DTSTART;TZID=UTC:20181012T093000
DTEND;TZID=UTC:20181012T123000
DTSTAMP:20190110T142118Z
CREATED:20190110T142118Z
LAST-MODIFIED:20190110T142118Z
UID:9938-1539336600-1539347400@ercst.org
SUMMARY:EU ETS: Impacts of the new clean energy package targets on the MSR
DESCRIPTION:The Market Stability Reserve was put in place to address the current surplus of EUA’s in the market\, as well as “normal” levels of surplus that may emerge in future years. The performance of the MSR is therefore critical to the well-functioning of the EU ETS. However\, the parameters have not been tested in real life\, and many were put in place a while ago\, especially the thresholds. As the MSR starts to operate\, monitoring its parameters and their fit with the current environment is important.\nPolicies that support the deployment of renewable energy sources (RES) and the improvement of energy efficiency (EE) will continue to drive emission reductions in the EU\, effectively ‘overlapping’ with the EU ETS\, and ultimately limiting its role as a driver for decarbonization. The recently agreed targets of the 2030 EU Energy package (32% for renewables and 32\,5% for energy efficiency) will certainly lead to additional CO2 reductions in EU ETS sectors and will further impact the supply- demand balance in the market.\nTherefore\, in spite of the doubling of its withdrawal rate until 2023\, the MSR may not\, under certain conditions\, be able to mitigate the impact of those policies on the EU ETS during Phase IV.\nThe MSR reviews scheduled in 2021 and 2026 will be key to assess the accuracy of its parameters to mitigate ex-post the effects of overlapping policies on the EU ETS which targets have been significantly reinforced last June.\nQuestions to be discussed during this meeting \n\nThe MSR parameters were adjusted a while ago but we are currently facing a new situation – whatare developments that need to be taken into account in light of the review cycle? (e.g. new targets for EE and RES; changes in economic growth and forecasts for the future; new provisions for the 4thPhase adopted this year\, etc.)\nHow will this new context influence the behaviour of players on the ETS market and to what extent will the MSR\, with its current parameters\, be able to remove future unexpected unbalances (e.g. impact on the evolution of the carbon price\, etc.)\nWhat are possible changes in hedging behaviour? If significant changes occur\, what impact will it have on the market?\nHow should proposals to modify the MSR design be analysed and judged? What should be changed to ensure the MSR is resilient?\n\n \nWorkshop Materials:\nAgenda\nPresentation by ERCST\nPräsentation by S. P. Schleicher\nPresentation by T. Buckley\nPresentation by R. Trotignon\nPresentation by J. Ackva\nPresentation by P. Ruf\n \nRelated Events\nA Vision for the Future of EU Carbon Market GovernanceSeptember 21 @ 14:30 - 16:00Launch Event: Review of the EU ETS – Managing the EU ETS for DecarbonizationSeptember 22 @ 15:00 - 17:00Launch Event: Optimization of CBAM De-Minimis ThresholdsOctober 1 @ 15:00 - 17:00Accounting and Product Standards in RomeOctober 6 @ 09:30 - 11:30Expert Consultation: State of the EU CBAMOctober 12 @ 15:00 - 17:00\nLaunch Event: CBAM in an International ContextSeptember 15 @ 15:00 - 17:00Informal Dialogue on Article 6September 9 - September 11Modelling the EU ETS post 2030: Assumptions and Evidence WorkshopSeptember 8 @ 14:00 - 16:00
URL:https://ercst.org/event/eu-ets-impacts-of-the-new-clean-energy-package-targets-on-the-msr/
END:VEVENT
BEGIN:VEVENT
DTSTART;TZID=UTC:20181012T133000
DTEND;TZID=UTC:20181012T163000
DTSTAMP:20190110T143018Z
CREATED:20190110T143018Z
LAST-MODIFIED:20190110T143018Z
UID:9939-1539351000-1539361800@ercst.org
SUMMARY:EU ETS: free allocation adjustments due to production changes in Phase 4
DESCRIPTION:The recent revision for the fourth phase of the EU ETS extended the use of transitional free allocation for the period 2021 – 2030. Moreover\, the revision introduced some new rules for free allocation and adjustments to free allocation due to production changes. While these new rules set out the main criteria\, the European Commission has the mandate to adopt more detailed implementation rules and requirements.\nAccording to the indicative planning of the European Commission\, the current free allocation rules will be updated in a new delegated act\, expected to be adopted in Q4 2018. Moreover\, an implementing act is expected to be adopted in Q3 2019 which will set out the provisions for the adjustments of the levels of free allocation based on changes in production levels.\nWhile some of the main rules for free allocation adjustments due to production changes are clearly included in the phase 4 revision (e.g. the 15% threshold calculated on a rolling average of two years)\, a number of issues for discussion and clarification remain. For example\, the preambles of the phase 4 amendments include the vision for the Commission to ‘consider further measures to put in place\, such as the use of absolute thresholds regarding the changes of allocations’.\nThis meeting gives the opportunity for stakeholders to discuss this important issue with each other and with policymakers. The objective is to take an open approach to the issue by looking at examples from other emission trading systems and discussing the (dis)advantages\, for specific sectors and the EU as a whole\, of different ways free allocation adjustments can be organised.\n \nWorkshop Material(s):\nAgenda\nPresentation by M. Quinn\nPresentation by L. Rathe\nPresentation by O. Imbault\nPresentation by C. Munnings\n \nRelated Events\nA Vision for the Future of EU Carbon Market GovernanceSeptember 21 @ 14:30 - 16:00Launch Event: Review of the EU ETS – Managing the EU ETS for DecarbonizationSeptember 22 @ 15:00 - 17:00Launch Event: Optimization of CBAM De-Minimis ThresholdsOctober 1 @ 15:00 - 17:00Accounting and Product Standards in RomeOctober 6 @ 09:30 - 11:30Expert Consultation: State of the EU CBAMOctober 12 @ 15:00 - 17:00\nLaunch Event: CBAM in an International ContextSeptember 15 @ 15:00 - 17:00Informal Dialogue on Article 6September 9 - September 11Modelling the EU ETS post 2030: Assumptions and Evidence WorkshopSeptember 8 @ 14:00 - 16:00
URL:https://ercst.org/event/eu-ets-free-allocation-adjustments-due-to-production-changes-in-phase-4/
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