UPDATE: UK Government To Auction 4 Million Carbon Allowances March 24

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LONDON -(Dow Jones)- The U.K. government is to auction 4 million allowances Mar. 24 in its second auction in phase 2 of the European Union’s Emissions Trading Scheme, a statement said Monday.
The government also released its schedule of auction dates and volumes up to April 2010.
The auctions will comprise a competitive bidding facility only. The bidding window will open between 0800 GMT and close at 1000 GMT.
In 2009, the U.K. plans to auction a total of 25 million allowances.
At the U.K.’s first auction of E.U. ETS credits Nov. 19, 4 million allowances were sold at a total GBP54 million.

The E.U. ETS sets a cap on the total emissions from the main industrial sectors across Europe, covering more than 10,000 installations in the energy and industrial sectors. Each installation has to purchase allowances for every metric ton of carbon they emit.
TABLE OF AUCTION DATES AND AMOUNTS TO BE AUCTIONED DATE SIZE OF AUCTION (IN MILLIONS) 2009 Mar. 24 4.0 June 4 4.2 July 9 4.2 Sept. 10 4.2 Oct. 8 4.2 Nov. 5 4.2 2010 Jan. 7 2.0 Feb. 4 2.0 Mar. 4 2.0 -By Selina Williams, Dow Jones Newswires +44 207 842 9262; [email protected]
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