What changed, Decision (EU) 2015/1814

+ ### Article 1 — Market stability reserve
− ### art_1
− Article 1
− 
+ 5. Each year, a number of allowances equal to 12 % of the total number of allowances in circulation, as set out in the most recent publication as referred to in paragraph 4 of this Article, shall be deducted from the volume of allowances to be auctioned by the Member States under Article 10(2) of Di…
− 5. Each year, a number of allowances equal to 12 % of the total number of allowances in circulation, as set out in the most recent publication as referred to in paragraph 4 of this Article, shall be deducted from the volume of allowances to be auctioned by the Member States under Article 10(2) of Di…
+ 5a. Unless otherwise decided in the first review carried out in accordance with Article 3, from 2023 allowances held in the reserve above the total number of allowances auctioned during the previous year shall no longer be valid.
+ 
+ 
+ ### Article 2 — Amendments to Directive 2003/87/EC
+ 
+ Directive 2003/87/EC is amended as follows:
+ (1) Article 10 is amended as follows:
+ 
+ (a) paragraph 1 is replaced by the following:
− ### art_2
+ ‘1. From 2019 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Articles 10a and 10c and are not placed in the market stability reserve established by Decision (EU) 2015/1814 of the European Parliament and of the Council (*1).
− Article 2
+ (b) the following paragraph is inserted after paragraph 1:
− Directive 2003/87/EC is amended as follows:
+ ‘1a. Where the volume of allowances to be auctioned by Member States in the last year of each period referred to in Article 13(1) of this Directive exceeds by more than 30 % the expected average auction volume for the first two years of the following period before application of Article 1(5) of Deci…
− | (1) | Article 10 is amended as follows:(a)paragraph 1 is replaced by the following:‘1. From 2019 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Articles 10a and 10c and are not placed in the market stability reserve established by Decis…
− | --- | --- |
− | (a) | paragraph 1 is replaced by the following:‘1. From 2019 onwards, Member States shall auction all allowances that are not allocated free of charge in accordance with Articles 10a and 10c and are not placed in the market stability reserve established by Decision (EU) 2015/1814 of the European P…
− | (b) | the following paragraph is inserted after paragraph 1:‘1a. Where the volume of allowances to be auctioned by Member States in the last year of each period referred to in Article 13(1) of this Directive exceeds by more than 30 % the expected average auction volume for the first two years of t…
+ (2) In Article 13(2), the second subparagraph is replaced by the following:
− | (2) | In Article 13(2), the second subparagraph is replaced by the following:‘Member States shall issue allowances to persons for the current period to replace any allowances held by them which are cancelled in accordance with the first subparagraph. Similarly, allowances held in the market stabil…
− | --- | --- |
+ ‘Member States shall issue allowances to persons for the current period to replace any allowances held by them which are cancelled in accordance with the first subparagraph. Similarly, allowances held in the market stability reserve and which are no longer valid shall be replaced by allowances which…
− ### art_3
+ ### Article 3 — Review
− Article 3
+ ### Article 4 — Transitional provision
− ### art_4
+ Article 10(1) of Directive 2003/87/EC as amended by Directive 2009/29/EC of the European Parliament and of the Council (1) shall continue to apply until 31 December 2018.
− Article 4
+ ### Article 5 — Entry into force
− Article 10(1) of Directive 2003/87/EC as amended by Directive 2009/29/EC of the European Parliament and of the Council (6) shall continue to apply until 31 December 2018.
+ This Decision shall enter into force on the twentieth day following that of its publication in the *Official Journal of the European Union*.
− ### art_5
+ (*1) Decision (EU) 2015/1814 of the European Parliament and of the Council of 6 October 2015 concerning the establishment and operation of a market stability reserve for the Union greenhouse gas emission trading scheme and amending Directive 2003/87/EC (OJ L 264, 9.10.2015, p. 1).’;
− Article 5
+ (1) Directive 2009/29/EC of the European Parliament and of the Council of 23 April 2009 amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community (OJ L 140, 5.6.2009, p. 63).
− This Decision shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.