EEX to begin German national carbon permit sell-off on Oct. 5

European Energy Exchange AG

24/08/2021 11:31

LONDON, Aug 24 (Reuters) - The European Energy Exchange
(EEX) said on Tuesday the first sell-off of carbon permits under
Germany's national emissions trading system (ETS) will start on
Oct. 5.
    Germany introduced its own emissions trading system (known
as nEHS) at the beginning of this year.
    It sets a carbon dioxide (CO2) emissions equivalent price on
gasoline and diesel, heating oil, coal and gas, which previously
were not included in the European Union's ETS for utilities and
energy-intensive industry.
    By setting a fixed price of initially 25 euros ($29) per
tonne CO2 equivalent, the German government expects to raise 7.4
billion euros this year and thereafter raise income annually to
reach 55 euros per tonne by 2025.
    The money will go towards capping a renewable energy support
charge levied on retail electricity and compensating commuters
for rising travel costs.
    "The first sell-off session of the nEHS is expected to take
place on 5 October 2021," EEX said in a statement.
    Sell-off sessions will be held twice a week on Tuesdays and
Thursdays from 0930-1530 CET, with the last session probably on
Dec. 7, it added. 
    Under the German scheme, the fixed price phase is planned
until 2025. From 2026, the sale of permits moves to an auction
process. 
    ($1 = 0.8522 euros)

 (Reporting by Nina Chestney; Editing by David Holmes)
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