Skip to main content
Annual Report Enea Group 2018
Enea Group CSR Report 2018
A
  • Eng
  • Pol
Report AR 2018
Annual Report Enea Group 2018
Menu
Annual Report Enea Group 2018
Enea Group CSR Report 2018
A
  • Eng
  • Pol
  • The activity of the Group
    • Key events in 2018
      • Q1 2018
      • Q2 2018
      • Q3 2018
      • Q4 2018
    • ENEA Group in numbers
    • Letter from President of the Management Board and CEO
    • Structure Group
    • Segments
      • Segments
      • Mining
      • Generation
      • Distribution
      • Trading
    • Implemented measures and investments
      • Capital expenditure in 2018
      • Investments implemented in 2018
      • Retail Trade Area
      • Customer Service Area
      • Wholesale Trade Area
    • Risk Management
      • Risk management
      • Management model
      • Risk management process
      • Risk assessment
      • Risk committee of Enea Group
      • ENEA Group’s Risk Model
    • Environment
      • Reduction of pollutant emissions
      • Compliance with formal and legal requirements
      • Issues regarding Mining Area – LW Bogdanka
    • Employment
      • Employment
      • HR Policy implementation at ENEA Group in 2018
      • Information on the remuneration rules at ENEA S.A.
  • Financial standing
    • Selected consolidated financial data
    • Selected non-consolidated financial data
    • Key operating data and ratios for ENEA Group
    • Separate financial statements
    • Consolidated financial statements
  • Development strategy
    • Strategy
    • ENEA Group’s Development Strategy until 2030 – status of implementation
    • Other information significant for the assessment of the issuer’s situation which may affect future results
      • Regulatory environment
      • Internal energy market
      • Key objectives and provisions of the Winter Package
      • Capacity Market
      • The European Union Emission Trading Scheme (EU ETS)
      • Financial markets (MiFID 2)
      • Limits on Property Rights
      • Variability and liquidity on the wholesale market
      • Amendment to RES Act
      • Impact of the Act amending the Excise Duty Act and certain other acts
  • Shares and shareholding
    • Shareholding structure and share quotations
    • Prices of ENEA S.A.’s shares on Warsaw Stock Exchange
    • Change in the price of ENEA S.A.’s shares vs. the changes in the WIG30 and WIG- Energy indices
  • Corporate governance
    • Governing bodies
      • Composition of Management Board of ENEA S.A.
      • Composition of Supervisory Board of ENEA S.A.
      • Diversity policy
      • Supervisory Board’s Committees
      • Remuneration rules for members of Management Board of ENEA S.A.
      • Remuneration rules for members of Supervisory Board of ENEA S.A.
      • Remuneration
      • Cooperation with the audit company
    • Declaration on Corporate Governance application
    • General Meeting
  • Download Center
  • Glossary
  • Stakeholder Map
  • Eng
  • Pol
Enea Group CSR Report 2018
Annual Report Enea Group 2018
Enea Group CSR Report 2018
A
  • Eng
  • Pol

Search on site

Search form

/03 Development strategy

The European Union Emission Trading Scheme (EU ETS)

  • Add to print basket
  • Go to print basket
  • Add to bookmarks
  • Add note
  • Go to note basket
  • Send to friend
  • View as PDF
Printer-friendly version

The increased volatility on the CO2 emission allowances market also had a significant impact on the increased volatility on energy markets throughout Europe, also in Poland.

Save - Delete - Close

On 8 April 2018, Directive (EU) 2018/410 of the European Parliament and of the Council introducing changes to the greenhouse gas emission allowance trading system came into force.

The Directive establishes, inter alia, two financial mechanisms:

  • Modernisation Fund - for the modernisation of energy systems in low income Member States. It is intended to be financed by proceeds from the auction of allowances in the years 2012 to 2030. The Fund is to be used primarily to support the development of energy efficiency and investments in renewable energy sources.
  • Innovation Fund - to provide financial support for RES development, carbon capture and storage and innovative low-emission projects. It is to be supplied with funds from allowances, which otherwise would be allocated free of charge or sold through auctions.

In addition, the framework for Phase IV of the EU ETS as well as new rules for the Market Stabilisation Mechanism (MSM) have been established. Pursuant to them, since the beginning of 2019, the reduction rate of allowances in circulation has increased from 12% to 24%. Allowances are gradually transferred from the auctioning system to the market stability reserve. Starting from 2024, the rate of 12% will be restored. In Phase IV of the EU ETS, which will start at the beginning of 2021 and last until 2030, the linear reduction factor will also be increased from 1.74% to 2.2%. Both of these elements have an impact on the reduction of supply on the EU ETS market, and thus on the increase in prices of CO2 emission rights observed in 2018. At the peak of the increases, quotations of CO2 emission allowances increased more than three times as compared to the beginning of the year. The increased volatility on the CO2 emission allowances market also had a significant impact on the increased volatility on energy markets throughout Europe, also in Poland.

Previous /03 Capacity Market
Next /03 Financial markets (MiFID 2)
© Enea SA 2025
  • Annual report 2017
  • Annual report 2016
  • Annual report 2015
  • Annual report 2014
  • CSR Report 2017
  • CSR Report 2016
  • CSR Report 2015
  • CSR Report 2014
  • CSR Report 2013
  • CSR Report 2012

Past reports

Enea Group CSR Report 2018
  • Privacy policy
  • Contact

Share this page

to your social networks

  • Facebook
  • Linkedin
  • Share
  • Download Center
  • Glossary
  • Stakeholder Map