Brussels withholds more EU CO₂ permits to curb the price paid by the industry

The pact raises the ceiling of the stability reserve from 400 to 700 million and leaves up to 300 million rights as a cushion. The Spanish electro-intensive industry receives it as a lifeline; environmentalists speak of a weakened price signal.

• What has happened? The Council of the EU and the European Parliament have reached a provisional agreement to raise from 400 to 700 million the ceiling of emission allowances that can accumulate the market stability reserve, the mechanism that stores surplus permits and returns them when they are scarce.

• Who is behind it? The negotiation has been closed by the representatives of the Twenty-seven and the European Parliament. The European Commission had proposed going further and suspending the cancellation of surpluses without a date; the final agreement sets a specific number and maintains the definitive withdrawal of what exceeds the new threshold.

• What impact does it have? Up to 300 million additional permits are available as a cushion against price peaks. It relieves the Spanish electro-intensive industry – cement, ceramics, steel, refining – but does not alter the path of reducing emissions until 2030 or the electricity bill.

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