European Energy Exchange revises emission allowances auction calendar

European Energy Exchange AG

22/06/2023 08:26

OSLO, June 22 (Reuters) - The European Energy Exchange
(EEX) has published a revised auction calendar for 2023 EU
emission allowances (EUA) to reflect changes to volumes owing to
European Union regulations,  it said late on Wednesday.
    The adjustments start on July 3 and include the Recovery and
Resilience Facility (RRF), a temporary instrument to sell
additional allowances to raise a possible 8 billion euros ($8.8
billion) for measures to increase EU resilience from the energy
crisis spawned by the war in Ukraine.
    This will result in an additional 16,199,377 allowances in
2023, EEX said.     
    At the same time, auction volumes between September and
December will be reduced to reflect allowances removed from
Market Stability Reserve (MSR), a tool that adjusts allowances
in circulation based on actual emissions the previous year.
    This reduces auction volumes by 90,783,578 allowances,
according to a separate statement from the European Commission.
    In addition, the volume of a single EUA auction on behalf of
Northern Ireland on Oct. 4 has been lowered to 1 million EUAs,
from 1.248 million previously, also as part of the MSR
adjustment.
    "As a result of the updates to the auction calendars for
2023, a total volume of 517,587,000 EUA will be auctioned by EEX
in 2023," it said. 
    Preliminary figures published by the EEX had showed 2023
auction volumes of 592,135,000 EUAs, including the Northern
Irish volumes. 
($1 = 0.9104 euros)

 (Reporting by Nora Buli
Editing by David Goodman
)
 ((Nora.Buli@thomsonreuters.com; (+47) 21 04 05 56; Reuters
Messaging: nora.buli.thomsonreuters.com@reuters.net))