Today, the European Energy Exchange (EEX) has successfully concluded the 2,500th EU ETS primary auction for EU emission allowances (EUA) and EU aviation allowances (EUAA) since they began in 2010. This milestone comes as the EU is set to roll out new rules to cut 62% of emissions for the covered sectors by 2030. As part of the 2,500 EU ETS auctions, Germany’s 750th successful primary market auction was concluded on 3 March 2023.
“EEX is proud to provide the EU ETS auction platform since the very beginning,” Peter Reitz, Chief Executive Officer at EEX, says. "Recent record carbon prices in auctions demonstrate the EU ETS’ effectiveness as a cornerstone for the energy transition. With our products and services, we contribute directly to the EU’s climate targets including the new targets for 2030 and 2050.”
The EU ETS auctions have proven to be an effective instrument for reductions and provided a blueprint for emission schemes worldwide. Greenhouse gas emissions (GHG) in the EU have decreased by 32% between 1990 and 2020, higher than the original 20% reduction target. Between 2010 and 2022, EUA spot market primary auctions alone represented 6.7 billion tonnes of CO2 emissions auctioned-off via EEX, generating over €142 billion in revenue for the participating member states for climate and innovation funds.
In the framework of the new 2030 targets of the European Climate Law, the EU ETS will be further strengthened so that emissions by the covered sectors are cut by 62% by 2030 compared to 2005 levels and further expanded to include maritime transport in 2024, amongst others.
EEX has supported market-based solutions for transitioning to a low-carbon economy since 2005, when the EU ETS was introduced, by offering spot and derivatives trading for emission allowances. Over the years, it has expanded its product suite to include a secondary market for EUA and EUAA spot contracts, EUA futures, EUA options as well as the world’s largest environmental product suite via Nodal Exchange in the US. Auctions within the EU ETS are currently conducted on behalf of 25 EU member states, three EEA-EFTA states, as well as for Germany, Poland and Northern Ireland.
The clearing and settlement of emission allowances is carried out by the clearing house European Commodity Clearing (ECC).
EEX provides transparent information on the auction platform within the EU ETS, as well as auction results, on its website here.
The European Energy Exchange (EEX) is the leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers. As part of EEX Group, a group of companies serving international commodity markets, it offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State. More information: www.eex.com.
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