Dear Sir or Madam,
We have now reached December 2024 and the end of this year’s auctions in German national emissions trading in accordance with the Fuel Emissions Trading Act (BEHG) and European emissions trading, which in Germany is regulated by the Greenhouse Emissions Trading Act (TEHG), is approaching.
In national emissions trading, the last auctions for this year will take place tomorrow and on Thursday on the European Energy Exchange (EEX) and companies that are obliged to submit allowances would be well advised not to wait until Thursday afternoon to place their orders and transfer funds, as technical failures or delays at the banks can always occur.
It is not yet clear when the first auctions will take place in 2025, but we do not expect them to take place until May 2025; the German Emissions Trading Authority has announced the second quarter.
In European emissions trading (EU ETS), the last auction of this year will take place on Monday, December 16, 2024. The first auction of the new year will be held exactly one month later on Tuesday, January 16, 2025.
According to the EEX, a total of 680,969,000 emission allowances are to be auctioned in 2025, including 11,544,850 for aviation. However, this makes no difference, as both EUAs for the aviation industry and EUAAs for stationary installations can now be used.
This week, a total of 14,582,500 EUAs will be auctioned on the EEX on all five trading days.
In the past trading week, these have ranged from 67.13 to 71.54 in the benchmark December 2024 contract. Prices remained in the upward trend channel until Thursday, which was also due to reports that the EU intends to impose minimum stocks for gas storage facilities for February 2025. On Friday, however, there was profit-taking, which caused prices for EUAs to fall by 1.26% at the end of the week.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 22/11/24 | 29/11/24 | Change |
| EUA (December-2024-Future) | 69.27 EUR | 68.40 EUR | -0.87 EUR |
| VER (Natural Carbon Offsets) | 0.32 USD | 0.40 USD | +0.08 USD |
| VER (CORSIA eligible Carbon Offsets) | 0.25 USD | 0.44 USD | +0.19 USD |
| nEZ (German National Carbon Units) | 45.00 EUR | 45.00 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 74.59 USD | 72.81 USD | -1.78 USD |
| EURO (Currency.. Forex) | 1.0414 USD | 1.0575 USD | +0.0161 USD |
(The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights 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.
With kind regards,
Your Advantag – Team