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25 May 2005 - Firms covered by the EU Emissions Trading Scheme will be able to open their UK carbon accounts later this week, the UK Government announced Tuesday. This Scheme is one of the main components in the fight against climate change.

It follows the publication Tuesday of allowances for installations covered by Phase I of the Scheme. Emissions trading will start in the UK with the UK Registry becoming operational, allowing operators participating in the scheme to access their allowances.

These are the final steps towards full UK participation in the Scheme. Operators will be able to begin trading the allowances once their Registry accounts are opened this week. The Scheme is set to help reduce carbon dioxide emissions by around 65 million tonnes carbon dioxide (around 8 per cent) below projected emissions of the installations covered by the Scheme over the next three years.

The Emissions Trading Registry is web-based, and records CO2 allowances held in firms accounts. The Registry allows allowances to be transferred to other accounts both within the UK and in other participating countries. The Registry software, developed by Defra, has been a great success having been licensed to 12 other States.

Margaret Beckett, Secretary of State for Environment, said: "I am delighted this Scheme is now going live in the UK. It will become one of the main ways to cut carbon dioxide emissions, while maintaining economic growth."

Criticism over the delay in publishing the NAPs agreement has come from independent energy consultants EIC. "When the UK first announced a draft National Allocation Plan in January 2004, the caps imposed on UK business looked harsh," said EIC in a statement. " It was also clear that these measures would impact strongly on competitiveness. More than a year has now passed, and the delay in finalising and issuing the allocation has significantly increased the cost to participants as a direct result of escalating market prices in carbon."

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