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Second round of NER 300 auctions announced for August and September

European Investment Bank - BEI/12/99   16/07/2012

Other available languages: FR DE

PRESS RELEASE

BEI/12/99

16th July, 2012

Second round of NER 300 auctions announced for August and September

A second round of auctions for the NER 300 Initiative will start on 1st August, 2012. This will be the first time that both exchanges have held auctions and auctions will now take place on all trading days. These will take place on two exchanges selected for NER 300 sales, the European Energy Exchange (EEX) and ICE Futures Europe, (ICE).

The European Investment Bank will auction 500,000 EUA a day during August and September. Auctions will be held on the EEX Derivatives Market on Mondays and Tuesdays and ICE from Wednesday to Friday. EEX already held EUA emission allowance auctions of the third trading phase on four days a week on behalf of EIB during June and July.

“Use of exchange auctions has increased effective monetisation of NER300 allowances and use of a second market with more frequent auctions will allow greater engagement with carbon markets. This marks a key step in the NER300 initiative to fund innovative low-carbon technologies.” said Simon Brooks, European Investment Bank Vice President.

“We are very pleased that EIB will use the EEX auction platform also for sales of the last part of the first NER 300 tranche. EEX’s auction model has proven its reliability in more than 250 auctions to date, and we remain highly committed to offer our services to the full satisfaction of our clients, both the auctioneers and the bidders“, says Peter Reitz, Chief Executive Officer of EEX.

“ICE is delighted that the EIB has chosen to conduct the next round of NER 300 sales on ICE Futures Europe. The auctions will be held on one screen alongside trading activity in the secondary market for emissions futures and options products and will take place on ICE’s flexible, web based trading platform; WebICE. The auction represents a new opportunity for participants to trade emissions on ICE and we look forward to continuing to work with the EIB to develop this market,” said David Peniket, President & COO, ICE Futures Europe.

The European Investment Bank selected EEX and ICE Futures Europe as co-operation exchanges for on exchange sales of 300 million EUA. Monetization of the first tranche of 200 million EUA is to be concluded by the end of September. The EIB uses a range of sales channels. Alongside on-exchange auctions, this includes direct sales on the secondary market and clearing of over-the-counter transactions

Press contact:

  • European Investment Bank: Richard Willis, +352 621 555 758, willis@eib.org

Website: www.eib.org/press – Press office: +352 4379 21000 – press@eib.org

www.eex.com

Website: www.theice.com

Notes for Editors:

Details of all auction dates and more information about NER300 are published online.

By EIB at: http://www.eib.org/about/news/european-investment-bank-ner300-auctions.htm

By EEX in the current auction calendar at: http://www.eex.com/en/

By ICE at: www.theice.com


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