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The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021
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This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 No. 484
Adjustments of the auction calendar
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10.—(1) The determinations and publications of the annual volumes to be auctioned and of the bidding windows, volumes, dates, auctioned product, payment and delivery dates in connection with individual auctions pursuant to regulations 8 and 9 may not be modified except for adjustments due to any of the following—
(a)failure to sell all allowances at a preceding auction;
(b)the cancellation of an auction pursuant to regulation 11;
(c)any settlement failure referred to in regulation 28(5);
(d)allowances remaining in the new entrants reserve provided for in article 34G of the Trading Scheme Order;
(e)any measures authorised under regulation 12;
(f)any withholding of allowances where it is not possible to hold an auction pursuant to regulation 20(5);
(g)the necessity for an auction platform to avoid conducting an auction in breach of these Regulations or the Trading Scheme Order.
(2) Where the manner in which a modification is to be implemented is not provided for in these Regulations, the auction platform concerned may not implement that modification until it has consulted the FCA and auctioneer.
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