Dear Sir or Madam,
Last week, Thyssenkrupp called for a weakening of the EU Emissions Trading System (EU ETS 1) by allowing industry to continue to receive partially free emission allowances until 2050. This would be a total of 11 years longer than planned in relation to the implementation of the Paris Climate Agreement targets.
Competitors such as Salzgitter AG, Dillinger and Saarstahl, on the other hand, have spoken out clearly against extending the issuance of free allowances and thus weakening the impact of emissions trading, as this would penalise those companies that have actively worked on decarbonisation.
The revenues from emissions trading are earmarked and are to be used for the transformation to a climate-neutral society. This is the purpose of the German Climate and Transformation Fund (KTF).
Now, the German Ministry of Finance has come up with the idea of using funds from the KTF for other purposes, namely to purchase emission allowances from other countries if Germany fails to meet its greenhouse gas reduction targets in the coming years.
As the Expert Council on Climate Issues has determined, Germany will emit approximately 224 million tonnes of CO2 or its equivalent in other greenhouse gases too much by 2030, for which Finance Minister Klingbeil (SPD) must now find funds.
This idea has been strongly criticised by both the Union and the opposition.
Last week, the prices of EU emission allowances in the benchmark contract ranged from €71.31 to €73.30. The EUAs remained technically oriented and gained a moderate 0.6% on a weekly closing basis.
A total of 13,657,500 emission allowances will be auctioned on the EEX on all five trading days this week, representing an increase of 20.3% compared to the previous week.
UPCOMING DATES
| 18/09/2025 | Last auction date for national emission allowances (nEZ24) on the EEX with the year identifier 2024 at a price of €45.00 |
| 30/09/2025 | End of the submission period for German national emission allowances (nEZ24) for year 2024 |
| 30/09/2025 | End of the submission period for European emission allowances (EUA/EUAA) for the year 2024 |
| 04/12/2025 | Last auction for German national emission allowances in 2025 (nEZ25) |
| 15/12/2025 | Last auction for European emission allowances (EUA) in 2025 |
| 07/01/2026 | First auction for European emission allowances (EUA) in 2026 |
| Instrument | 22/08/25 | 29/08/25 | Change |
| EUA (December-25-Future) | 72.53 EUR | 72.99 EUR | +0.46 EUR |
| EUA 2 (December-28-Future) | 88.24 EUR | 88.64 EUR | +0.40 EUR |
| nEZ (national Emission Allowances (D)) | 55.00 EUR | 55.00 EUR | +0.00 EUR |
| UKA (December-25-Future (UK)) | 52.19 GBP | 53.14 GBP | +0.95 GBP |
| UK Natural Gas (December-25-Future) | 91.78 GBP | 86.39 GBP | -5.39 GBP |
| ICE Brent Crude Oil (December-25-Future) | 66.77 USD | 66.89 USD | +0.12 USD |
| EURO (Forex) | 1.1720 USD | 1.1685 USD | -0.0035 USD |
(EUA, EUA 2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. This market information has just an informational character and are no advice or offer to trade emission allowances or their futures and options. If you want to unsubscribe, please reply to this mail.)
Please call our international carbon desk if any further questions exist: +49.2831.1348220 or book here a call with one of our specialists.
With kind regards,
Your Advantag – Team