EEX to arrange NER auctions for the Czech Republic2012/09/12
The European Energy Exchange (EEX) is pleased to announce that it will conduct primary market auctions of EU allowances (EUA) on behalf of the Czech Ministry of the Environment through its auction platform. These auctions will comprise unallocated volumes from the Czech Republic’s new entrants’ reserve (NER) for the second trading period of the EU emissions trading system (2008-2012). EEX was selected as service provider from a group of several possible candidates.
The volume to be auctioned off comprises approximately 2 million EUAs which will be sold through the EEX Spot Market in two tranches: The first EUA auction, comprising a volume of 1 million EUA, will be held on Thursday, 11 October 2012. On that day, the trading participants will be able to submit bids for the auction from 9 to 11 a.m. (CET). The second auction date has yet to be determined in coordination with the Czech authorities and will be announced in due time.
Acting as the auctioneer in both auctions, the Czech Ministry of the Environment will be granted an “auctioneer status” on EEX. This status has been established by EEX specifically for the purpose of primary market auctions and is a simple form of admission for public or private bodies that are commissioned to auction off emission allowances.
“We are looking forward to our cooperation with EEX. All revenues from the NER sale will be used to finance energy saving projects in public buildings within the Green Investment Scheme ’Green light to savings‘”, stated Ivo Hlaváč, Deputy Minister of the Czech Ministry of the Environment.
“We have established a simple, transparent and secure auction model for the marketing of NER volumes and are pleased about the confidence which the Czech Ministry of the Environment placed in us in choosing our platform for auctioning their allowances”, confirms Peter Reitz, Chief Executive Officer of EEX.
Together, EEX and Eurex offer their participants a platform for trading in CO2 emission allowances. In the framework of this co-operation, which was launched in December 2007, Eurex participants can trade the CO2 derivatives products listed on EEX and take part in EUA auctions via their existing infrastructure and a simplified admission process.
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