http://www.legislation.gov.uk/uksi/2021/484/regulation/11The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021texttext/xmlenCLIMATE CHANGEStatute Law Database2026-08-10Expert Participation2026-07-01 These Regulations make provision under the Finance Act 2020 for auctions of allowances to emit 1 tonne of carbon dioxide equivalent created under the Greenhouse Gas Emissions Trading Scheme Order 2020. The Greenhouse Gas Emissions Trading Scheme Auctioning Regulations 2021 PART 3 111Where appropriate, the appointed auction platform may cancel, or change the date or time of the opening or close of the bidding window of, an auction where the proper conduct of that auction is disrupted or is likely to be disrupted.2Where an auction is cancelled under paragraph (1), the volume of allowances of the cancelled auction must—abe added to the next four auctions to be held by the appointed auction platform, evenly distributed, so that a quarter of the allowances which would have been sold at the cancelled auction is added at each subsequent auction; orbif doing so would increase the volume of any of the next four auction to more than 125% of the volume first proposed for that auction (“the 125% volume”), any allowances in excess of the 125% volume at that auction must—ibe added to any other of the four auctions for which that would not be the case, oriiif all the next four auctions would be increased to more than 125% of their first proposed volume, be added to the market stability mechanism account held by the UK ETS Authority.Reg. 11 in force at 22.4.2021, see reg. 1(2)Words in reg. 11(1) substituted (25.8.2021) by The Greenhouse Gas Emissions Trading Scheme Auctioning (Amendment) (No. 2) Regulations 2021 (S.I. 2021/917), regs. 1(2), 6(2)