Revised Emissions Trading Directive to Affect Ruukki Beyond 2013
12/19/2008 - Ruukki’s emissions allowances for steel production will be affected beyond 2013 by recent amendments to the European Union's Emissions Trading Directive.
Rautaruukki reports that amendments to the European Union's Emissions Trading Directive (ETD) will affect the company's emissions allowances for steel production beyond 2013.
The European Parliament approved the amendments to the Emission Trading Directive on Wednesday December 17, 2008. Rautaruukki said that it is primarily concerned with keeping the free initial allocation of emissions allowances and the determination of energy-intensive industrial sectors that are exposed to carbon leakage.
"Based on Parliament's decision, we expect steel production to be included in sectors covered by free initial allowances, and that emissions allowances will continue to be distributed across Europe according to effectiveness criteria being developed,” said Toni Hemminki, Vice President, Energy and Environment, from Ruukki. “This means the most efficient plants will receive the most emissions allowances.”
Ruukki's Raahe and Hämeenlinna Works in Finland come within the scope of the EU's Emissions Trading Scheme. Ruukki is not yet able to accurately assess how emissions trading will affect costs, since the initial distribution plans and volume of free initial allowances will not be apparent until 2010.
Rautaruukki supplies metal-based components, systems and integrated systems to the construction and engineering industries, offering a wide selection of metal products and services. Rautaruukki has operations in 26 countries and employs 15,000 people. Net sales in 2007 totaled EUR 3.9 billion. The Corporation uses the marketing name Ruukki.
