The EU ETS has a central role in promoting and facilitating green transition in energy and industry sectors. The current reform provides an opportunity to redesign the EU ETS to help companies implement their carbon-neutrality strategies more effectively and leave no consumers behind. In the context of high carbon prices, even more, attention is needed to ensure that the safeguards are effective in limiting the unnecessary cost of decarbonisation.
CEEP participated in the working diner co-hosted by three MEPs in Strasbourg last month. The main topic was the EU ETS reform, with a focus on speculation and on the funding mechanisms. The participants exchanged views on possible solutions to redesign the EU ETS so that it is fit for its purpose, fair, and can work for all to ensure clean and affordable energy to power our households and economy.
Next month, CEEP with ERCST will also provide an overview of the size and functioning of the funding mechanisms which are part of the revised EU ETS and the Fit for 55 Package, i.e. the Social Climate Fund, and will put forward some recommendations in light of the ongoing legislative process.