Bulgaria is the First EU Member State, Ready to Trade Its Greenhouse Gas Emissions Allowances on the Europe’s Trading/Auctioning Platform

The Third phase of the Europe’s Emissions Trading System (ETS) starts on 1 January 2013.

The Third phase of the Europe’s Emissions Trading System (ETS) starts on 1 January 2013, as the installations and the aviation operators, participating in ETS, will have to buy increasing number of allowances on auctions.

Bulgaria, together with another 23 member states will offer its allowances on the Europe’s trading/auctioning platform (national auctioning platforms have only Germany, Great Brittan and Poland).

A small share of these allowances (3 277 000 for Bulgaria) the state can sell on the so called “early auctions”, which are expected to start in November 2012. They will be organized by the winner of an Europe-wide public procurement procedure – European Energy Exchange.

Thanks to the efficiency and good coordination carried out by the Ministry of Environment and Water, the Bulgarian National Bank and the Ministry of Finance the tight deadlines set by the European Commission were met. Thus he Republic of Bulgaria is the first EU member state, which met all the requirements, successfully performed the necessary tests and will be able to provide its greenhouse gas emissions allowances to the first auction of the temporary common trading platform.

The regulation of the procedure for the spending of the funds from the auctions will be set in details in a Law on Climate Change Mitigation.