Decision No 1359/2013/EU of the European Parliament and of the Council of 17 December 2013 amending Directive 2003/87/EC clarifying provisions on the timing of auctions of greenhouse gas allowances  Text with EEA relevance

19.12.2013 EN Official Journal of the European Union L 343/1
DECISION No 1359/2013/EU OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
of 17 December 2013
amending Directive 2003/87/EC clarifying provisions on the timing of auctions of greenhouse gas allowances
(Text with EEA relevance)
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION
,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 192(1) thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Economic and Social Committee (1),
After consulting the Committee of the Regions,
Acting in accordance with the ordinary legislative procedure (2),
Whereas:
(1) Article 10(4) of Directive 2003/87/EC of the European Parliament and of the Council (3) does not specify how volumes of greenhouse gas emission allowances to be auctioned are to be distributed over the trading period.
(2) For the purposes of legal certainty and market predictability, it should be clarified that, in order to ensure the orderly functioning of the market, the Commission is able in exceptional circumstances to adapt the auction timetable pursuant to Article 10(4) of Directive 2003/87/EC.
(3) Directive 2003/87/EC should therefore be amended accordingly,