Regulation On The Auctioning Of Emission Allowances Under The Allocation Act 2012

Original Language Title: Verordnung über die Versteigerung von Emissionsberechtigungen nach dem Zuteilungsgesetz 2012

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Regulation on the auctioning of emission allowances under the Allocation Act 2012 (emissions trading ordinance 2012-EHVV 2012)

unofficial table of contents

EHVV 2012

Date of delivery: 17.07.2009

Full quote:

" Emissions Trading Regulation 2012 of 17. July 2009 (BGBl. 2048), as defined by Article 5 of the Law of 21. July 2011 (BGBl. I p. 1475) "

:Modified by Art. 5 G v. 21.7.2011 I 1475

See Notes

Footnote

(+ + + Text evidence: 23.7.2009 + + +)

for details on how to stand. name="BJNR204800009BJNE000100000 " />Non-Official Table of Contents

Input Formula

Based on § 21 (2) of the Allocation Act 2012 of 7. August 2007 (BGBl. I p. 1788), the Federal Government, with the consent of the Bundestag, decrees: Non-official table of contents

§ 1 Scope of application

This regulation regulates the Auction of allowances within the meaning of Section 3 (4) of the Greenhouse Gas Emissions Trading Act of 8. July 2004 (BGBl. 1578), which was last amended by Article 9 of the Law of 11. August 2010 (BGBl. 1163), as from 1. January 2010. Unofficial table of contents

§ 2 auctioning amount, auctioning dates

(1) Each year, the following total amount of permissions by doing business for immediate fulfillment (Spothandel) as well as by doing business for delivery on appointment (futures trading) auctioned:
1.
40 million permissions according to § 19 sentence 1 of the Allocation Act 2012 as well as
2.
to cover the Costs according to § 5 (3) sentence 1 of the Allocation Act 2012 required amount of allowances.
(2) For the auction of the total quantity referred to in paragraph 1, an auction shall take place once a week from the beginning of the year, until the Total quantity is auctioned. In the years 2010 and 2011, the weekly auctioning amounts are 870 000 allowances and in 2012 there are 945 000 allowances. For the distribution of the auctioning quantities in accordance with the second sentence, the weekly auctioning dates in 2010 and 2011 will each have 570 000 allowances per appointment and in 2012 645 000 allowances per appointment in the months of January. offered by October in the futures trading for delivery in December of the current year; otherwise, the allowances are offered in the Spothandel. If the remaining amount of auctioning falls below the quantity set out in the second sentence, the remaining quantity shall be offered in the following auction date.(3) If the trading system is not available for one of the proposed auction dates due to a technical malfunction, or if the total bid quantity behind the offered auction quantity remains in a sales date of the auction, it will be found that: the auction does not take place at the proposed auction date. A replacement date shall be set for the cancelled auctioning date within the following 15 trading days. The competent authority shall ensure that the replacement date referred to in the second sentence is made public.(4) In order to determine the amount of allowances required under paragraph 1 (2), the net proceeds from the auctioning of a number of allowances shall be decisive in order to compensate for the costs of the non-fee income of those allowances not covered by the The German Emissions Trading Authority (ETS) is required by the Federal Environment Agency for the financial year in question; these costs are derived from the federal budget, Section of the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety, Chapter 1605 "Umweltbundesamt". Overlappings and undercover are to be calculated on the future refinancing needs. In 2012, the total amount of allowances referred to in paragraph 1 (2) shall be increased by a total of a number of allowances whose net proceeds from the auctioning shall be the total expenditure of the Federal Environment Agency in connection with the refund of the general Emission trading fee according to the Emissions Trading Scheme-Costing 2007. The refinancing requirement according to records 1 and 3 shall be covered in proportion to the net proceeds of the auctions in the months of January to October of a year. Non-official table of contents

§ 3 auctioning procedure

(1) The auction shall be carried out separately according to the breakdown pursuant to Article 2 (2), second sentence, as an integral part of the stock exchange trading on a regulated market in which there is a market for the trading of spouse and the futures trading (the stock exchange). (2) Calculated to participate as a tenderer in the Auction in trading or in futures trading are all trading participants admitted to trading with allowances on the stock exchange. The provider of the allowances to be aucted shall be the competent authority.(3) The minimum bid quantity at the auction in the Spothandel is 500 allowances, otherwise 1 000 allowances. Higher bid quantities must be equal to an integer multiple of the minimum bid quantity. The bid price must be in euro with two decimal places.(4) The auction procedure shall be carried out in accordance with the single-price procedure with a bidding round for each auction. Each bidder can only view their own submitted bids (closed order book). (5) At the fixed point in time, the bids issued are ranked according to the amount of the bid price, with the same bid price according to the chronological order. of the access of the commandments. The quantities of bids set out in the bids shall be summed up, starting at the highest bid price. The price of the bid, in which the summed bid quantities reach or exceed the offered quantity of allowances, is the surcharge price. All bids entered into the total formation shall be allocated according to the amount of the award price. The last successful bid is added to the remaining amount of permissions. Unofficial table of contents

§ 4 settlement

(1) The successful bidding process is subject to the sale of auctioning in Spothandel and in futures trading. the same conditions as those applying to the relevant exchange for the settlement of the corresponding trade in allowances.(2) For the purpose of setting and changing the bids and for determining the successful bids, the conducting exchange shall not require the participants to pay higher fees or charges than with the corresponding trade with allowances. This also applies to the execution of the fulfillment operations in the case of successful bids (clearing) by the conducting exchange or an affiliated institution. Non-official table of contents

§ 5 Reporting obligations, monitoring

(1) The passing stock exchange shall inform the competent authority after each auctioning date on the surcharge price, in anonymized form on the distribution of the bids as well as on the numbers of the auction, in particular the total number of tenderers, the number of successful bidders, the ratio of the total number of bidders Bid quantity for the auction volume as well as the span of the bid prices. The competent authority shall ensure that the surcharge price is made known in a timely manner and on the stock exchange rate.(2) The passing stock exchange is obliged to continuously monitor the bending behaviour. Where there is evidence of a bidding behaviour which is directed at a distortion of the award price, the stock exchange shall take the necessary countermeasures, and then the award shall be determined in accordance with Article 3 (5). The stock exchange provides information to the supervisory authority responsible for the stock exchange and the competent authority on the measures taken. The prudential rules applicable to the respective trading venue shall remain unaffected.(3) In the case of information referred to in the second sentence of paragraph 2, the competent body may limit the total amount of bid per tenderer to 100 000 allowances per auction in the trading or futures trade, or other, at auctioning of Set permissions for common countermeasures. The prudential rules applicable to the respective trading venue shall remain unaffected. The competent authority shall ensure that the measures referred to in the first sentence are made known on a stock exchange basis.(4) The competent authority shall publish in each case up to 5. November of a year, the quantity of allowances increased in accordance with section 2 (1) (2). Non-official table of contents

§ 6 Auctions on behalf of other Member States

The passing stock exchange may auction rights in the Commission of other Member States of the European Union. With the agreement of the competent authority, the auctioning quantities may be combined in an auctioning date under similar auctioning conditions. Non-official table of contents

Section 7 Competent Body

The Federal Environment Agency is responsible for this regulation. Non-official table of contents

§ 8 Entry into force

This Regulation enters into force on the day after the announcement.