Consolidated financial statements Notes to the financial statements 44. Carbon Dioxide (CO2) Emission Allowances

44. Carbon Dioxide (CO2) Emission Allowances

As at December 31st 2009 and December 31st 2008, the Group reported an excess of the carbon dioxide (CO2) emission allowances it had been allocated over its actual carbon dioxide (CO2) emissions (see Note 21, item 3).

On July 1st 2008, the Council of Ministers adopted, by way of a regulation, the National Allocation Plan of Carbon Dioxide (CO2) Emission Allowances for 2008-2012, issued under the EU carbon dioxide (CO2) emission trading scheme to existing installations and installations undergoing modification (Dz.U. No. 202, item 1248, dated November 14th 2008). In accordance with the current legislation, allowances for Phase II (years 2008–2012) were given free of charge to all the installations covered by the emission trading scheme.

The aggregate annual average carbon dioxide (CO2) allowance granted to the Group companies (for the years 2008-2012) is 1,217 thousand tonnes.

The actual volume of carbon dioxide (CO2) emissions in the year ended December 31st 2009 was 1,102 thousand tonnes.

Following changes in the Group’s structure, the LOTOS Group increased its annual average carbon dioxide (CO2) emission allowance (for the years 2008–2012) allocated to the Group companies by 18.6 thousand tonnes (allowances used in 2009: 15.9 thousand tonnes).

This is a translation of a document originally issued in Polish

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