The EU Emissions Trading System (ETS) operates in all EU countries plus Iceland, Liechtenstein and Norway. It limits emissions from more than 11,000 heavy energy-using installations (power stations and large industrial plants), and airlines operating between these countries, covering approximately 45% of the EU's greenhouse gas emissions. Over 100 stationary installations and 15 aircraft operators currently come within the system in Ireland. The Environmental Protection Agency is the competent authority for implementation of the ETS in Ireland. The ETS is currently designed to deliver a reduction of 43% of emissions on an EU-wide basis by 2030 compared to 2005 levels. The European Commission is currently preparing legislative proposals to amend the ETS, as part of a suite of measures to ensure the EU meets its increased ambition to reduce overall emissions by at least 55% by 2030 versus 1990 levels.
The Commission is expected to publish their proposed revisions to the legislation as part of their 'Fit for 55' Package, which is expected this summer. Ireland will need to consider these proposals once launched and work with the Council Presidency and other Member States to form an agreed Council position.