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UK Emissions Trading Scheme

Volume 475: debated on Monday 12 May 2008

To ask the Secretary of State for Environment, Food and Rural Affairs what estimate has been made of the level of funds likely to be generated by the auctioning of allowances under the UK Emissions Trading Scheme in each year from 2008 to 2012; and how the funds will be disbursed. (199307)

[holding answer 21 April 2008]: The UK is a participant in the EU Emissions Trading Scheme, where it will auction 7 per cent. of its total allowances in Phase II (2008-12), amounting to approximately 85 million allowances. Revenues from auctions will depend on market conditions at the time of auction. The Government do not make price predictions and has not therefore made an estimate of likely auction revenues. Revenues from auctions will go to the Consolidated Fund.