By Mathew Carr
March 11, 2022– Here, I’m catching up and providing some docs supplied by Europe about its response to the fraught geopolitical situation.
From 1 January 2021 to 28 February 2022, the revenues generated from the auctioning from EU ETS allowances amounted to around EUR 30 billion.
This handy amount allows EU nations to support the needy as they try to deal with surging energy prices.
Makes sense to sell the right to pollute, right, folks?
And I can’t resist the nice chart on the sources of the region’s gas supply:
Here is the EU framework for “exceptional, time-limited implementation of regulated (energy, power) prices, which may be allowed in specific circumstances, such as periods of significantly higher energy prices. To maintain incentives for
energy efficiency and an efficient market, regulatory measures should remain temporary and include a well- defined roadmap for their gradual removal.
Preventing windfall profits:
In the current crisis situation, Member States may exceptionally decide to take tax measures
that seek to capture some of the returns that certain electricity generators gain.
Using Most of the Toolbox