On 15 May 2019, 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 started 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.
The 2018 publication of the total number of allowances in circulation led to the placement of nearly 265 million allowances in the reserve as of on January 2019. The indicator published on 15 May 2019 will determine how many allowances will be placed in the reserve between September 2019 and August 2020.