Hungarian Government Raises CO2 Caps By 500,000 Tons - Reuters

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BUDAPEST - Hungary plans to set a cap of 30.73 million tonnes carbon dioxide emissions per year on its industry in phase two of the European Union's emissions trading scheme, up from 30.24 million in the current period.

"Companies under the climate protection scheme will receive on average 30.73 million emissions permits in the 2008-2012 period," Environment Ministry state secretary Laszlo Diossy told national news agency MTI on Wednesday. Hungary's government is scheduled to finalise the plan at a meeting next week.

While the figure is above the annual 30.24 million permits allocated to Hungarian companies in phase one (2005-2007) of the EU's scheme, it is lower than an average 30.85 million proposed in a draft version of the plan published last October.

The European Union's executive Commission has already rejected all but one of 10 phase two emissions plans so far, and is to consider more such plans later this month.

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http://www.planetark.com/dailynewsstory.cfm/newsid/39778/story.htm