The Chamber of Deputies passed a governmental proposal of the Bill on Emissions Trading (zákon o podmínkách obchodování s povolenkami na emise skleníkových plynů). The proposal transposes the EU-directive. The directive deregulates the existing state of emission credits granting; the directive also defines stages of the process of deregulation; the amount of the credits that are granted directly to the polluters should decrease. Instead of granting the emissions credits to biggest polluters (usually power plants and heating plants operators) based on their carbon dioxide emissions, the EU attempts to proclaim a market-based approach in the future. The polluters should buy emission credits that would allow them to discharge carbon dioxide; the Bill set the prices of an emission credit. The market-based approach emphasizes the trading on the basis of the demand and supply. Stating so, the EU motivates the polluters to invest in new technologies that pollute environment less so that they may spare on purchasing additional credits and even trade with them. The Bill stipulates the principal of benchmarking that precisely reflects the amount of carbon dioxide emissions of each polluter for free-of-charge credits granting.

The Bill is heading to the Senate. The Act should come into force in January 2013.

For further information, click here (source: explanatory report).

The Chamber of Deputies also passed a governmental proposal (approved by the Government on 22 August) of the Bill on Consumer Credits (zákon o spotřebitelském úvěru) in the first reading. The Bill introduces a stricter process of consumer credit application so that providers of credits should check the financial stability of the applicants.

The Bill is heading to the Budget Committee.

For further information, click here (source: explanatory report).