ETS : publication of the 2025/2026 auctions calendar for EU, Germany and Poland (EEX)

The European Energy Exchange (EEX) has published on the 28/07/2025 the revised 2025 EUA (European Union Allowances) auction calendar as well as the new 2026 EUA auction calendar in coordination with the European Commission, the EU Member States and the EEA EFTA States auctioning on the common auction platform (CAP3) as well as with the competent authorities of Germany, Poland (who run their own ETS) and the United Kingdom on behalf of Northern Ireland (NI).

The 2025 auction calendar has been adjusted for the period from September to December 2025 in accordance with the Auctioning Regulation due to the operation of the Market Stability Reserve (MSR : a threshold mechanism allowing to lower EUA surplus on the ETS market, settled in 2019), based on the 2024 total number of allowances in circulation (TNAC).

The revised EUA auction volumes from September to December 2025 will be as follows: for the EU, the volume per auction will amount to 3,268 m EUA (vs 3, 273 m EUA for the same period in 2024) ; for Germany, the volume per auction will amount to 1,691m EUA vs 1,696 m for Q4 2024, and…