The Spanish Parliament (Cortes Generales) has issued an opinion concluding that a European Commission proposal to cease the invalidation of allowances in the EU's market stability reserve complies with the principles of subsidiarity and proportionality. The opinion, submitted on 25 May 2026 to the President of the Council of the European Union, concerns the proposal referenced as [7945/26 - COM(2026)153], an interinstitutional file 2026/0085 (COD). The Spanish Parliament found the proposal to be in accordance with the EU's subsidiarity and proportionality rules, marking a supportive stance from a national legislature.
The opinion relates to a Commission proposal to amend Decision (EU) 2015/1814, which established the market stability reserve (MSR) for the EU Emissions Trading System (ETS). The amendment would end the practice of invalidating allowances from the reserve, a mechanism designed to address surplus allowances. The Spanish Parliament's assessment focused on whether the EU-level action was necessary (subsidiarity) and whether it went beyond what is needed (proportionality). The positive opinion suggests that the Spanish legislature sees the amendment as appropriate for EU-level regulation without overstepping.
This development comes as the proposal progresses through the EU legislative process. The Council of the European Union, which received the Spanish opinion, is expected to consider it alongside other national parliament opinions. The European Parliament will also examine the proposal under the ordinary legislative procedure. The Spanish Parliament's support may influence other member states' positions, though the opinion is non-binding. The proposal aims to adjust the MSR rules to better align with the EU's climate targets, potentially affecting the carbon market by reducing the number of allowances removed from circulation. Stakeholders such as ETS operators and environmental groups will watch the legislative outcome closely, as it could impact carbon prices and emission reduction incentives.