PART 3Auction Calendar
Annual volumes of allowancesI19
1
F2Except as otherwise provided in these Regulations, the volume of allowances to be auctioned in any calendar year must be AC – F3(AFA + IC + RFS + NER + BF)F6+ T, where—
F10a
AC for the calendar year is the base for that year determined in accordance with paragraph (10)(a) multiplied by—
i
in the case of a calendar year up to and including 2025, the 2021-2025 hospital and small emitter reduction factor calculated in accordance with article 21(2) of the Trading Scheme Order;
ii
in the case of a calendar year from 2026 up to and including 2030, the 2026-2030 hospital and small emitter reduction factor calculated in accordance with article 21(3) of the Trading Scheme Order;
b
F11in relation to a calendar year corresponding to a scheme year in the 2021-2025 allocation period, “AFA” is—
i
total number of allowances to be allocated free of charge under article 34K of the Trading Scheme Order (the aviation free allocation) in the scheme year, or
ii
if the number in paragraph (i) is not known, the notional number of allowances to be allocated in the scheme year in question as part of the aviation free allocation, determined in accordance with paragraph (9),
F7ba
in relation to any other calendar year, AFA is zero;
F13c
IC for the calendar year is the number of allowances determined in accordance with paragraph (10)(b);
d
RFS for the calendar year is the number of allowances determined in accordance with paragraph (10)(c);
e
NER for the calendar year is the number of allowances determined in accordance with paragraph (10)(d);
F4f
BF means—
i
if part of the volume of allowances to be auctioned in the calendar year has been brought forward to increase the volume of allowances auctioned in a previous calendar year in accordance with measures authorised under regulation 12(1)(b)(i), the volume of allowances brought forward;
ii
in any other case, zero.
F8g
T for the calendar year is the number of allowances determined in accordance with paragraph (10)(e).
2
Where AFA as determined during the calendar year under paragraph (1)(b)(i) (“AFA1”) is greater that the notional number of allowances determined under paragraph (1)(b)(ii) (“AFA2”), a number of allowances equal to AFA1 minus AFA2 is to be removed from the total number of allowances to be auctioned in that calendar year, and the auctioneer must adjust the number of allowances to be auctioned at the auctions to be held during the year after AFA1 has been established as the auctioneer considers appropriate.
3
When AFA1 is less than AFA2, a number of allowances equal to AFA2 minus AFA1 is to be added to the total number of allowances to be auctioned in that calendar year, divided between the auctions which are to be held during that year after AFA1 has been established as the auctioneer considers appropriate.
F54
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F55
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F56
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7
Any volume of allowances that may not be auctioned in a given calendar year due to the rounding required by regulation 5(1) must be accounted for in the volume of allowances to be auctioned in the subsequent calendar year.
8
Where the volume of allowances to be auctioned in a calendar year is increased under paragraph (3), the UK ETS authority may F1... create additional allowances for auction in that year.
9
For the purposes of paragraph (1)(b)(ii), the notional number of allowances to be allocated as part of the aviation free allocation in the scheme year is set out in the following table.
F1210
For the purposes of paragraph (1), for a calendar year referred to in column 1 of the following table—
a
the base is the number of allowances set out in the corresponding entry in column 2;
b
IC is the number of allowances set out in the corresponding entry in column 3;
c
RFS is the number of allowances set out in the corresponding entry in column 4;
d
NER is the number of allowances set out in the corresponding entry in column 5;
e
T is the number of allowances set out in the corresponding entry in column 6.
Column 1 Calendar or scheme year | Column 2 Base | Column 3 IC | Column 4 RFS | Column 5 NER | Column 6 T |
|---|---|---|---|---|---|
2021 | 155,671,581 | 57,856,572 | 4,098,497 | 3,024,907 | 0 |
2022 | 151,437,134 | 56,273,432 | 4,098,497 | 3,024,907 | 0 |
2023 | 147,202,686 | 54,690,292 | 4,098,497 | 3,024,907 | 0 |
2024 | 92,062,882 | 36,825,153 | 2,255,107 | 1,664,388 | 23,316,495 |
2025 | 86,742,014 | 34,696,806 | 2,255,107 | 1,664,387 | 13,323,712 |
2026 | 79,059,690 | 31,623,876 | 2,255,107 | 1,664,387 | 9,992,784 |
2027 | 70,127,996 | 28,051,198 | 2,255,107 | 1,664,387 | 6,661,856 |
2028 | 53,498,502 | 21,399,401 | 2,255,106 | 1,664,387 | 0 |
2029 | 50,918,572 | 20,367,429 | 2,255,106 | 1,664,387 | 0 |
2030 | 49,320,164 | 19,728,066 | 2,255,106 | 1,664,387 | 0 |