Spain to propose to EU a cap on carbon emission permit prices

Spain’s PM, Pedro Sanchez, has said the country is to send a proposal to the EU calling for a limit to be placed on EUA prices. Spain is also expected to send a proposal to “reform the electricity market”. No specifics have yet been disclosed on the level of EUA price cap or on the mechanism to deliver it.

This follows calls by Poland to suspend the EU ETS. Trilogue (European Parliament, European Commission and EU Council) discussions on the EU ETS reform as part of the Fit for 55 package are set to resume in September post the summer recess.

Most EU member states have, thus far, remained committed to ongoing reform of the loc’s climate policies.