EU ETS Auctions
The EU Emissions Trading System (EU ETS) is a cornerstone of the EU's climate policy and its key tool to reduce greenhouse gas emissions cost-effectively. It is the world's first carbon market and remains among the largest ones globally. Auctioning is the main method for allocating emission allowances in the EU ETS. EEX holds regular auctions of EU general allowances (EUAs) and EU aviation allowances (EUAAs) on its spot market since 2010.
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Emissions Auctions at EEX
Overview
| Auctioned product | Contract | Delivery day | Contract size | Minimum lot size | Tick size | Fulfilment |
| EU allowances | EUAs | t+1 | 1 EUA | 500 EUAs (= 500 t CO2eq) | EUR 0.01 per allowance | Delivery versus payment |
| EU aviation allowances | EUAAs | t+1 | 1 EUAA | 500 EUAs (= 500 t CO2eq) | EUR 0.01 per allowance | Delivery versus payment |
Details
| Auction Mandate | CAP3 = Common Auction Platform 3 (25 EU Member States, 3 EEA EFTA States, Innovation Fund, Modernisation Fund, Recovery and Resilience Facility, Social Climate Fund) | Germany | Poland | UK in respect of generation of electricity in Northern Ireland |
| When (details in the auction calendar) | Weekly auctions on Mondays, Tuesdays and Thursdays | Weekly auctions on Fridays | Bi-weekly auctions on Wednesdays | Once per year |
| Fees [€/500 allowances] = 1 lot | 1.88 | 2.00 | 1.88 | 1.88 |
| EUA Volume 2024 | 448,755,500 | 83,991,500 | 59,108,000 | 926,500 |
| indicative EUA Volume 2025* | 520,794,500 | 96,764,500 | 62,362,500 | 1,047,500 |
| EUAA Volume 2024 | 5,429,000 | 1,061,000 | 198,000 | - |
| EUAA Volume 2025 | From January 2025 onwards, aviation allowances will be included in the EUA auctions, therefore no dedicated auctions will be held. | |||
* The volumes from September to December 2025 are indicative as they are subject to adjustments in accordance with the Article 14 of the Auctioning Regulation in view of implementation of the Market Stability Reserve.
Rules and Regulations
The auctioning of allowances is governed by the EU Auctioning Regulation. This covers the timing administration and other aspects of auctioning. In addition, for all EEX's emissions auctions, the respective rules and procedures of EEX and ECC apply.
As an important aspect for accessing the auctions, the EU Auctioning Regulation defines the categories of participants who are eligible to apply to bid in the auctions, and requires certain admission criteria to be fulfilled (cf. Article 18 and 19).
Find more detailed information on regulations and regulation here.
Access to the auctions - direct and indirect
Auction Design
For all auctions of general allowances (EUAs) and for all auctions of aviation allowances (EUAAs), the common rules of the EU Auctioning Regulation apply. Find more detailed information here.
M7 Auction System
Downloads
Auction Details:
| Publishing date | Title | File |
|---|---|---|
| 2024-08-01 | Benchmark fees and fee components - 2024 | pdf (117 KB) |
| 2024-07-19 | History Emission Spot Primary Market Auction Report 2012 - 2023 | zip (607 KB) |
| Publishing date | Title | File |
|---|---|---|
| 2024-07-31 | Annex to the Auction Calendar 2024 | pdf (121 KB) |
| 2024-07-31 | EEX Auction Calendar 2024 (PDF) | pdf (2 MB) |
| 2024-07-31 | EEX Auction Calendar 2024 (XLS) | xlsx (230 KB) |
| 2024-07-31 | EEX Auction Calendar 2025 (PDF) | pdf (1 MB) |
| 2024-07-31 | EEX Auction Calendar 2025 (XLS) | xlsx (157 KB) |
| 2024-07-31 | EUA Primary Auction Calendar History 2024 - 2025 | zip (3 MB) |
- Find the whole History of the calendar here