Sale of emission quotas to change

The amendment sets new rules that will become effective in January 2018.

Illustrative stock photoIllustrative stock photo (Source: Sme)

Those interested in purchasing emission quotas will be able to do so only via an electronic system as of next January. The system will also be used to submit reports on greenhouse gas emissions, reports on operation and reports on verification and monitoring plans.

This stems from an amendment to the law on emission quota trading authored by the Environment Ministry which parliament approved on November 29.

The new rules also define ways to use the income from selling the emission quota permissions, the SITA newswire reported.

Greenhouse gas emissions from transport, agriculture and households in Slovakia keep decreasing. The air emission accounts (AEA) are used to cover the emissions from the sectors outside the main scheme of emission quota trading, and it is possible to move them across years and the member countries.

The European Union gives Slovakia about 25 million tonnes of AEA every year. These are then used to cover the sectors of transport, agriculture and waste, as well as the individual heating of households. Slovakia consumes about 21 million tonnes every year, the TASR newswire reported.

Based on estimates, Slovakia will submit excess AEA quotas until 2020. If Slovakia fails to sell them by this date, the quotas will expire, SITA reported.

The amendment also allows the Environment Ministry, as an administrator of the emission quotas, to use the flexibility of the AEA sales. Moreover, it defines a way to sell them via a direct sale, via a mediator or at an auction.

The Environmental Fund will receive the income from the sale of the AEA quotas, with a specific message on how to use them.

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