Announcement of volume of allowances for the first UK auction

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The Government intends to auction 4 million allowances at the first EU ETS auction in the UK on 19 November 2008. During 2009 the Government plans to auction 25 million allowances.

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.

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