The EU institutions have reached a final agreement on reforming the Emissions Trading System (ETS) after two years of intensive negotiations, the European Commission said on Thursday.
The agreed reforms include a doubling of the intake rate of surplus allowances into the Market Stability Reserve (MSR) to 24% for five years starting in 2019, up from a previous proposal of 12%. The MSR is designed to reduce the massive surplus of allowances on the market, which is estimated at 1.7 billion.
Following the agreement, the text...
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