EU's Dimas: CO2 Over-Allocation Won't be Accepted
Date: 23-May-06
Country: BELGIUM
"If there is an over-allocation, of course this will not be accepted during the second period" from 2008 to 2012, he told a briefing.
The EU scheme has taken a beating in recent weeks with carbon prices diving after data showed most companies used fewer CO2 permits in 2005 than they were given by their governments.
Dimas said he would be tough but fair when judging the plans, due to be submitted by EU member states by June 30.
He also reiterated there had been an over-allocation of CO2 credits by EU member states to their businesses in 2005.
"Member states were complacent in accepting these overestimations," he said, referring to emissions forecasts provided by industry.