The British government confirmed today that only 7% of the European Union Allowances (EUAs) will be auctioned. A that the government may auction around 10% of the allowances, which is the maximum allowed by EU regulations. The analysis was based on reports that the additional auction might be used instead of a windfall tax to cut some profits from energy firms and use them on the fuel-poor people.
However, the confirmed 7% allowances would be auctioned, amounting to about 85 million allowances during phase II (2008-2012). The exact number of allowances available in each auction would be officially announced by the Treasury at least one month prior to the auction date. although the date of the first auction has not been set yet.
Complete details of the emissions scheme can be viewed and eligibility criteria for participation in the auction can be read .