Press Release: Emissions trading: Commission approves Italian allocation plan

The European Commission on 25 May 2005 accepted Italy's plan for allocating CO2 emission allowances to Italian companies for the 2005-2007 trading period, after the Italian authorities agreed to lower significantly the total number of allocation by 23 million tonnes of CO2 annually or 9%. Italy would also have to notify further details of its allocations to specific installations and to abandon a provision to make a so-called ex-post adjustment to the plan. The Commission's Decision cleared the way for Italian companies to participate in the EU Emissions Trading Scheme, allowing for greenhouse gas emissions from Italy's power sector and from energy-intensive industrial plants to be cut at least cost to the economy.

• Primary Source