EU parliament seeks ETS reserve lead lawmaker

The European Parliament could select the lawmaker (MEP) to supervise a legislative proposal to reform the EU emissions trading scheme (ETS) by as early as next week. Belgian EPP MEP Ivo Belet is cited as a possible candidate, according to parliament officials close to discussions.

The market stability reserve proposed by the European Commission in January, would periodically adjust auction supply, according to pre-defined rules, to reduce instability in the EU ETS allowance market. The resulting legislation is likely to differ from the Commission's original proposal following parallel negotiations in both the European Parliament and the EU Council.

The MEP responsible for guiding a proposed market stability reserve into law is likely to have significant influence over the proposal's passage through the legislative process in the coming months, securing a compromise in the face of many differing opinions.

Leading MEPs from each party in the parliament's environment committee could choose the supervising lawmaker (rapporteur) for the legislation as soon as 14 July, parliamentary officials told Argus today.

French MEP Sophie Auconie from the centre-right European People's Party (EPP) was appointed rapporteur before EU-wide elections in May, but failed to secure re-election to parliament. Because the position was allocated to the EPP before the elections, her party must choose a successor, one official said.

Belet was the only name mentioned to Argus by officials as a possible candidate, although his office would not comment on whether he had been nominated.

Only once the EPP has chosen a candidate can this selection receive a final rubber-stamp from party representatives in the environment committee, the two officials said. This could take place as early as the evening of 14 July, when these co-ordinators are next set to meet — although there is no obligation for them to take the decision on this date.

Discussions on the reserve will be complex, with France proposing adjustments to the mechanism and others countries — including Germany and the UK — devising their own revisions. Any such changes must be added as amendments to the existing proposal, which in turn needs agreement from the parliament and a qualified majority of EU governments.

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