Carrying over units
Some units originating from a certain trading period can be converted to units valid for the subsequent period. This is called ‘carrying over’, and the process is subject to some regulations. Not all participants are entitled to carry over allowances, for example.
Carrying over EUAs and AEUAs
All account holders may carry over unlimited European Union Allowances (EUAs) and Aviation European Union Allowances (AEUAs) to a subsequent trading period, regardless of the account type.
All (A)EUAs valid for the 3rd phase of the EU ETS will be converted to (A)EUAs valid for the 4th phase in mid-2021. Phase 3 of the EU ETS runs from 2013 until the end of 2020. Phase 4 will commence at the start of 2021. Account holders do not need to take action for the phase 3 - phase 4 conversion, the registry will perform it automatically.