EU May See 500 Million Ton CO2 Surplus in Phase 2, Delbeke Says

April 14 (Bloomberg) -- The European Union’s emissions trading system may have a surplus of 500 million metric tons in the current trading period from 2008 to 2012, said Jos Delbeke, director general for climate at the European Commission.

Creating a gradually built set-aside from the pool of allowances to be auctioned between 2013 and 2020 would help improve the system, he told a conference in Brussels today.

“The set-aside is on the table of ministers,” Delbeke said. “If there’s not an agreement we will continue with the system as it is.”

To contact the reporter on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at pchapman10@bloomberg.net