The Department of Energy and Climate Change (DECC) announced on Monday 23 April its preferred supplier for the auctioning of phase 3 (2013-20) EU Emissions Trading Scheme (EU ETS) allowances. The contract has been awarded to London-based ICE Futures Europe who already provide internet-based marketplaces for trading energy. The auctions will start in November subject to successful completion of the European Commission's notification and listing process. In the second phase of the EU ETS (2008-12) the UK auctioned 7% of its allowances; in the third phase at least 50% of allowances will be auctioned. Climate change minister Greg Barker said the bid by ICE Futures Europe "will help to ensure value for money and the continued success of UK carbon auctioning into Phase 3". The contract to run the UK's definitive EU ETS auction platform will be awarded for three years, which is extendable by a further two.