The first UK auction will provide for a competitive bidding facility. Bids must be placed through an intermediary, referred to as a Primary Participant. Subsequent auctions will include a non-competitive component to facilitate direct access to the auctions for the smaller compliance buyers.
The bidding window will be open between 08:00 and 10:00 GMT on Wednesday 19 November 2008.
VAT will be chargeable on EU allowances in order to avoid any distortion of competition with existing carbon markets.