Putting a lid on a bad story.

I am sorry, but this psuedo-story was nothing to begin with, and now they are embarrassing themselves in trying to cover their asses.

 

First Point Carbon reported that the Poles may enforce some restrictions on sales of EUAs which just sounded completely bogus to me  ("Poland ponders allowance sales restrictions"). Now they report that "this proposal " has been removed from the draft law. The proposal was, in my estimation, only wishful thinking that if ramped up enough, would make a good yellow journalism story.

 

19.09.06  Poland scraps EUA restriction plans

Poland will not implement any sort of restrictions on the sales of EU allowances, the country’s national administration of the EU ETS clarified today.

Poland is working on an amendment of its emissions trading legislation, and a draft released this summer proposed that only companies that have actually reduced their CO2 emissions would be allowed to sell their surplus allowances to the market. This was intended to keep market participants from slowing down production at their plants for EUA income purposes.

Agnieszka Galan at the national administration of the ETS confirmed today that this proposal has been removed from the draft law.

“The law is being drafted and much work remains, but at the moment we will not implement such restrictions,” she told Point Carbon.

Galan told a conference in Budapest today that the country’s second-phase draft national allocation plan (NAP), which proposes to allocate 266.17 million allowance to existing installations annually over 2008-2012, is a compromise between Poland’s Kyoto target and the need to see continued economic growth.

The draft NAP, even though proposing to allocate 30 million allowances more every year than in phase one, is 90 million tonnes of CO2 below the ETS sector’s share of Poland’s Kyoto target.

In addition to the yearly 266.17 million EUAs to installations, Poland wants to auction 2.6 million EUAs per year, and its draft NAP also has a JI reserve of 1.8 million allowances per year.

Budapest

 

Okay, okay, I am not genius. It is true that I do not know for certain that the Polish would consider restrictions or not, but the likelyhood is very low. Sure, someone might have floated a trial balloon, but the Poles have already made such a mess out of their Emissions NAP, the delays, as well as being complete ignoramuses in the international political scene lately, that they just would not seriously consider making this misstep also.  This is my opinion only.