ICE Publishes Update on UK Emissions Trading Scheme Ahead of First UK Emissions Auction on May 19
April 30 2021 - 8:00AM
Business Wire
UK Government publishes guidance on
eligibility criteria for participating in the auctions
Intercontinental Exchange, Inc. (NYSE:ICE), a leading global
provider of data, technology, and market infrastructure, today
announced that, ahead of the first auction of UK emissions
allowances for the UK Emissions Trading Scheme (UK ETS) due to
commence on May 19, the UK Government’s Department for Business,
Energy and Industrial Strategy (BEIS) has published updated
guidance on the eligibility criteria for participating in the
auctions.
The updated guidance can be found here. Auction participants
will need to register with ICE. Market participants who are
interested in bidding in UK ETS auctions should contact
sales-utilities@ice.com.
ICE was appointed to host emissions auctions on behalf of BEIS
following the announcement from the UK Government and Devolved
Administrations of the planned launch of a UK ETS to replace the
UK’s participation in the EU ETS.
Full details of the UK Allowance (UKA) auctions, including the
auction calendar, can be found here. ICE plans to launch UKA
Futures contracts on May 19, coinciding with the launch of the
first auction, with UKA Daily Futures following on May 21, subject
to regulatory approval. These will clear at ICE Clear Europe
alongside ICE’s global environmental complex, including European
Union Allowances (EUA), California Carbon Allowances (CCAs) and
California Carbon Offsets (CCOs).
“We believe the UK ETS will be pivotal in supporting the climate
ambitions of the UK”, said Gordon Bennett, Managing Director of
Utility Markets at ICE. “Reliable and liquid carbon and energy
benchmarks are critical for markets to deliver an efficient
transition from high to low carbon energy generation and carbon cap
and trade programs have proved to be an incredibly successful
policy tool in abating emissions.”
ICE offers customers access to the largest and most liquid
environmental markets in the world. More than 14 gigatonnes of
carbon trades on ICE annually, which is equivalent to approximately
40% of the world’s total annual energy-related emissions footprint
based on current estimates.
ICE has been a leader in environmental markets for nearly two
decades. A wide and increasing group of stakeholders use the price
signals from ICE’s markets and indices to help assess climate
transition risk in their portfolios, and access liquidity pools for
compliance purposes, managing risk and allocating capital to
benefit from energy transition opportunities.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune
500 company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate
exchanges, including the New York Stock Exchange, and
clearing houses that help people invest, raise capital and
manage risk across multiple asset classes. Our comprehensive fixed
income data services and execution capabilities provide
information, analytics and platforms that help our customers
capitalize on opportunities and operate more efficiently. At ICE
Mortgage Technology, we are transforming and digitizing the
U.S. residential mortgage process, from consumer engagement through
loan registration. Together, we transform, streamline and automate
industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for
certain products covered by the EU Packaged Retail and
Insurance-based Investment Products Regulation can be accessed on
the relevant exchange website under the heading “Key Information
Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 -- Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as
filed with the SEC on February 4, 2021.
ICE- CORP
Source: Intercontinental Exchange
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version on businesswire.com: https://www.businesswire.com/news/home/20210430005307/en/
ICE Media Contact: Rebecca Mitchell
Rebecca.Mitchell@ice.com +44 7951 057 351 ICE Investor
Contact: Mary Caroline O’Neal marycaroline.oneal@ice.com (770)
738-2151
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