The plan to rescue the European Union’s carbon market has been published in the official journal of the EU, enacting into law the so-called back-loading measure.
The measure keeps on track the European Commission’s aim to allow the withdrawal of a maximum 400 million permits this year.
Reuters Newsagency reports the plan involves cutting the supply of permits to be sold under the EU Emissions Trading Scheme (ETS) in an effort to incentivise more investment in low carbon technologies.
Carbon traders are keenly watching the progress of the implementation of back-loading.
Its rules mean that a March start would allow this year’s total permit withdrawal to be 400 million, whereas an April start would allow only 300 million units to be withdrawn.
Reuters reports benchmark carbon prices soared 62 per cent in the six weeks leading up to the 
measure being finally approved by politicians.
Since then prices have slipped 11 per cent to €6.31 as traders sold to lock-in profits made in anticipation of the rise.
On Monday, the EC said that once back-loading was made law it would make an announcement in the following days which auction dates would be the first to be affected.
Exchanges must give at least two weeks notice of any change to their auction calendar.
