On April 16, the European Parliament rejected a proposal to delay the auctioning of 900 million emission allowances in the emissions trading system (ETS) until 2019-2020 rather than the scheduled date of 2013-2015. The proposal would amend the ETS Directive to allow the European Commission to change the timing of auctions. One allowance allows the emission of one metric ton of carbon dioxide, and there is currently a surplus of allowances. The surplus has been tied to the recession slowing industrial production. The proposal was designed to generate a short-term price hike; the EU carbon price has fallen to a level determined to be too low to stimulate investment. The Parliament voted 334-315 against the proposal with 63 abstentions; the plan was sent back to the environment committee.