London, 5 February (Argus) — EU member state representatives today backed a faster scrutiny period for back-loading EU emissions trading scheme (ETS) allowances, leaving tomorrow's European Parliament plenary vote as the only remaining obstacle to the measure.
The measure to accelerate the scrutiny period for back-loading, which will take 900mn allowances temporarily out of the EU ETS auction supply, has been undergoing two parallel scrutiny processes, one through EU member states in the council and the other through the European Parliament.
Member state deputy ambassadors adopted the measure by qualified majority this morning, meaning that the council branch of the approval process now needs only an inevitable rubber stamp from ministers in order to pass.
This leaves the parliamentary plenary vote, scheduled for 12:00 CET (11:00 GMT) tomorrow, as the only remaining obstacle to the measure being adopted. Two parties have said that they will object to the measure in plenary — the European Conservatives and Reformists group, which holds 54 seats, and the Europe of Freedom and Democracy group, which holds 32 seats. There are 766 seats in the parliament and the measure needs a simple majority to pass.
The plenary has already approved the wider back-loading measure, voting 385-284 in favour on 10 December.
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