Climate Action

Preliminary auction calendars for 2012 determined

Judge hammer and keyboard. Legal certainty on the Internet © Hemera

European Energy Exchange (EEX) and ICE Futures Europe (ICE) have, on a preliminary basis, determined the auction calendars for 2012 under the EU Emissions Trading System. These calendars have been closely coordinated with the Commission and the 24 Member States participating in the joint procurement procedure, and with Germany and the UK who have opted to appoint their own auction platforms.

EEX will auction general allowances for Germany on a weekly basis on Friday mornings, 9.00-11.00 CEST/CET[1], starting from 12 October. Two auctions of aviation allowances are envisaged on Wednesday 17 October and Wednesday 14 November, 9.00-11.00 CEST/CET.

ICE intends to conduct two auctions of general allowances for the UK on Wednesday 21 November and Wednesday 5 December, 8.00–10.00 GMT (9.00–11.00 CET), and two auctions of aviation allowances on Monday 26 November and Monday 10 December, also 8.00–10.00 GMT (9.00–11.00 CET).

EEX - in its capacity as the common auction platform - intends to conduct auctions of general allowances on Tuesdays and Thursdays, 13.00–15.00 CEST/CET, and auctions of aviation allowances - mostly on Wednesdays and some on Mondays - 13.00–15.00 CEST/CET. These auctions are expected to start by end-October, while the precise start date remains to be confirmed.

Poland, Norway and Iceland have also confirmed their intention to aggregate their shares of allowances to the auctions on the common auction platform. For auctioning on EEX, it is a prerequisite that the respective auctioneers are admitted to EEX and recognised by EEX's clearing house. These administrative procedures are on-going. If not ready in time for the first auction, the volumes of allowances for the Member State(s) concerned will be added as soon as all conditions are met.

EEX and ICE will maintain up-to-date auction calendars on their websites.

The final auction calendars for 2012 remain to be determined formally. ICE can do so only after the approval procedure for the UK platform has been completed. This is expected for early November.

On a preliminary basis, the auction calendars for 2013 are expected to be as follows:

  • EEX, in its capacity as the common auction platform, intends to continue weekly auctions of general allowances on Tuesdays and Thursdays, but in the morning;
  • EEX intends to auction general allowances for Germany once a week on Friday mornings;
  • ICE intends to auction general allowances for the UK fortnightly on Wednesday mornings;
  • EEX and ICE would conduct all aviation allowance auctions on certain other Wednesday mornings.

Further details remain to be determined.

Member States are to auction 120 million general allowances and some 32 million aviation allowances by the end of 2012. The Member States' shares in the volume of aviation allowance auctions to be auctioned will be announced in due course.

  • [1] Summer Time comes to an end on 28 October 2012.