LONDON (Reuters) - German energy and emissions exchange EEX will start auctioning Phase Three European Union carbon permits on behalf of the German government on October 12, it said on Friday, making it the first bourse to begin the eagerly awaited early sales.
The EU's Emissions Trading Scheme caps carbon emissions on more than 12,000 industrial and power plants across the 27-nation bloc and governments are allowed to sell a certain number of carbon permits each year.
The scheme's third trading period starts next year and lasts until 2020. During that time, power generators operating under the ETS will no longer receive the bulk of their carbon permits, called EU Allowances (EUAs), for free and most will be auctioned.
