(EU) 2015/1814 amends Directive 2003/87/EC.
This directive establishes a market stability reserve as of 2018 in order to decrease the oversupply of allowances in the European Union Emissions Trading System (EU ETS).
Art.1 states that the placing of allowances in the reserve shall operate from 1 January 2019.
Under this directive, a quantity of 900 million allowances deducted from auctioning volumes during the period 2014-2016 will not be added to the volumes to be auctioned in 2019 and 2020 but will instead be placed in the reserve.