The attached report covers the sales of 200 million EU allowances (EUAs) from the first tranche of the NER300 Initiative from 5 December 2011 until 28 September 2012. The report also provides an indication of overall proceeds likely to be available for the NER300 funding programme.

The decision on the second tranche sales, including timing aspects, will be based on a joint consultation between the two institutions building on experience from the first tranche.