The new draft law (version of 22 July 2010) has been on 11 August 2010 r. submitted to the Standing Committee of the Council of Ministers.
According to the draft, the Law of 22 December 2004 on the greenhouse gas and other substances emission allowances trading (O.J. No 281, item 2784, as amended), currently in force, will be repealed.
The draft law provides for the partial only implementation of the Directive 2009/29/EC of the European Parliament and of the Council of 23 April 2009 amending Directive 2003/87/EC so as to improve and extend the greenhouse gas emission allowance trading scheme of the Community and does not contain provisions on carbon leakage or transitional free allocation for the modernisation of electricity generation.
Not all the provisions characterising the third settlement period (2013-20) were also brought in.
As was envisaged in the reasons to the draft, the said partial transposition of the European Union Law arise from the absence of, drawn-up by the European Commission, detailed provisions making possible to address, for instance, the allocation of the concrete numbers of emission allowances or the allocation of allowances from the Communities reserve.
The said draft law constitutes therefore the mere transitional means to the complete transposition of the Directive 2009/29/EC - which shall be the separate one and which shall be brought into force since 2013.
The new draft law in its version of 22 July 2010 regulate thus the current settlement period - differing in many issues fundamentally from the future eight-years ones.
The written reasons for the draft law further argue that the introduction - in one legal instrument – of the distinct provisions relating to the subsequent settlement periods would cause considerable difficulties.