ETS rift prompts European Parliament to reset debate

Greece’s Members of European Parliament (MEPs) appear to have adopted opposing views over main power utility PPC’s effort seeking free CO2 emission allowances, one side bonding as a national front in favor of the utility’s request, the other maintaining a more reserved stance.

A crucial debate by the European Parliament’s Committee on the Environment, to focus on EU emissions trading system (ETS) revisions, was originally planned to take place yesterday but has now been rescheduled for December 15 to give various opposing sides more time to bridge differences.

Despite the efforts made by Greek officials, PPC’s quest for free CO2 emission allowances is not a given.

It remains unknown whether Greek MEPs will eventually unite for PPC’s quest. Campaigns pursued by environmental groups have strongly opposed the utility’s objective.

PPC has sought to elevate the issue as one of national significance, and has succeeded to great degree. The utility estimates that implementation of a planned fourth stage of the ETS system will cost roughly 7 billion euros, while the adoption of PPC’s positions would offer Greece benefits worth over 2.5 billion euros for the period covering 2021 to 2030.

According to PPC, the issue is one that directly impacts consumers as the cost of acquiring CO2 emission allowances is factored into the cost of electricity production and passed on to consumer electricity bills.