May 2013 - Energy practitioners of Kinstellar Budapest and advisors from Deloitte Hungary jointly held an energy-focused client seminar on the changes brought by the third phase of the European Union’s Emission Trading Scheme (EU ETS) exploring certain related key legal and commercial aspects. Two senior deputy heads from the Hungarian Ministry for National Development (responsible for energy and climate change matters) were also invited to the seminar as guest speakers.
Kristóf Ferenczi, partner and head of Kinstellar’s firm-wide energy practice, opened the seminar and summarised in his keynote address the main regulatory changes which were introduced by the third trading period of the EU ETS and also highlighted some of the challenges the EU ETS regime is currently facing. Zsolt Csanádi, managing associate at Kinstellar’s Budapest office, spoke about the new auctioning mechanism, which constitutes one of the main novelties in the revised EU ETS and has particular relevance for clients active in the power sector. Balázs Sepsey, associate at Kinstellar’s Budapest office, presented the revised rules of free allocation of emission allowances, focusing on the relevant practical implications on the industries which are facing the risk of carbon leakage.
Presenters from Deloitte Hungary included Róbert Reiniger, senior advisor at Environmental Services, who spoke about the expected regulatory changes in the CO2 emission monitoring and verification system, and Áron Kovalóczy, deputy-director of Financial Services, who talked about the potential financial risks associated with CO2 market price fluctuation.
Over 60 senior representatives from major Hungarian energy companies, industrial manufacturers and financial institutions attended the event.
For more information, please contact Kristóf Ferenczi, Partner and head of the Energy practice, at +36 1 428 4400, or at .