The Council today decided not to oppose the adoption of a Commission regulation amending Regulation No 1031/2010, which in particular determines the volumes of greenhouse gas emission allowances to be auctioned in 2013-2020.
The measure will enable the Commission to delay the auctioning of 900 million allowances in the third trading period of the EU’s emissions trading system EU ETS (so-called “back-loading”) to address the surplus of emission allowances that has built up in the EU ETS, which according to the Council is mainly a result of the economic crisis.
The Commission regulation is subject to the so-called regulatory procedure with scrutiny. This means that now that the Council has not objected and the European Parliament decided not to oppose it on 6 February 2014, the Commission may adopt the regulation.
For more information, please see the link below.
Source: European Council 
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