Climate Action

Forthcoming publication of 2018 surplus indicator for ETS Market Stability Reserve


On 15 May 2018, after 18:00 / 6 pm CEST, the European Commission will publish the total number of allowances in circulation on the European carbon market.

This indicator plays an important role for the Market Stability Reserve (MSR) of the EU Emissions Trading System (ETS), which will start operating in January 2019. It determines how many allowances will be placed in the reserve, as long as the surplus exceeds the level set in the legislation of some 833 million allowances.

While the 2017 publication of the total number of allowances in circulation did not affect the auction volume, this year's publication will for the first time have an effect on the auction volume for 2019.

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