Energy bourse EEX publishes 2024 emission auction volumes

By Ecomili

December 22, 2023 at 6:00 AM


OSLO (Reuters) - The European Energy Exchange (EEX) on Thursday published its 2024 calendars for the auctioning of emission allowances as part of the EU's emissions trading scheme (EU ETS).

The European Union's Emissions Trading System (ETS) forces manufacturers, power companies and airlines to pay for each tonne of carbon dioxide they emit as part of Europe's efforts to meet its climate targets.

Under the schedule, the EEX will auction a total of 677.3 million EU allowances (EUA) in 2024, covering sales via the EU's common EU Auction Platform (CAP3) as well as separate auctions for Germany, Poland and Northern Ireland, it said.

It will also auction 6.7 million EU Aviation Allowances (EUAA).

However, the volumes for auctions of EUAs from September to December 2024 are still preliminary and can be subject to adjustments, the EEX said.

In November, the European Commission said it would publish the number of permits member states will sell from September to December 2024 on July 31.

The EEX volumes for the September to December period could be around 76 million lower to reflect adjustments under the EU ETS' market stability reserve (MSR), analysts at Vertis Environmental Finance said.

"Hence, we would expect the actual 2024 auction volume to be around 608 million next year," Stefan Feuchtinger, head of market R&A at Vertis, said in a comment on the EEX calendar announcement.

This is 84 million more than the 523 million EUA total for 2023, and within the range expected by the market, he added.

(Reporting by Nora Buli; editing by Jonathan Oatis)


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