European Commission lowers EU Member State CO2 allowances made under the ETS Phase 2 (2008-20012).
The European Commission has imposed stricter targets for 10 European Member State National Allocation Plans than the states had proposed.
The NAPs decided upon were from Germany, Greece, Ireland, Latvia, Lithuania, Luxembourg, Malta, Slovakia, Sweden and the United Kingdom.
These represent 42 per cent of CO2 allowances allocated across Europe in the first phase.
All 10 States except the UK were told by the EC to cut their allocation to firms in the main CO2 emitting sectors (Power, Steel, Mining and Pulp and paper industries).
Five countries were told to make cuts of at least 25 per cent.
ENDS Europe DAILY 2215, 29/11/06
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