The long-awaited plan to prop up EU carbon prices was published on the official journal of the European Union on Wednesday (26 Feb.), enacting it into law. Final details on the withholding schedule were disclosed in exchanges' auctioning calendars on Thursday.
Under the back-loading plan, the EU will begin curbing the flow of allowances into the ETS from March 12. Sales will be reduced by 400 million units this years, and another 500 million allowances are due to be withdrawn from government auctions over the two years 2015 and 2016. The 900 million total under the programme will be reintroduced starting from 2019.