The published calendars reflect the operation of the Market Stability Reserve (MSR), which results in 275 531 900 allowances being placed in the MSR for the September 2025 – August 2026 period.
In 2026, auctions by the common auction platform will continue to take place on Mondays, Tuesdays and Thursdays, starting on 8 January. Auctions by Germany will be held weekly on Fridays, starting on 9 January. Auctions on behalf of Poland are scheduled bi-weekly on Wednesdays, starting on 7 January.
Since 1 January 2021, the EU ETS Directive continues to apply to and in the UK with respect to the generation of electricity in Northern Ireland. In accordance with the Protocol on Ireland/Northern Ireland (the ‘Windsor Framework’), the UK will auction a volume of allowances corresponding to its share in the Union-wide cap. One auction for Northern Ireland will take place on 7 October 2026.
The auction calendars consist of the auction volumes for all Member States, the Innovation Fund, the Modernisation Fund, the Recovery and Resilience Facility and the Social Climate Fund.
The 2025 auction calendar already includes the auctioning of 50 000 000 allowances the proceeds of which will feed into the Social Climate Fund, pursuant to Article 10a(8b) of the ETS Directive. No change was made to this amount for the revised 2025 calendars.
The auction volume allocated in 2025 to the Recovery and Resilience Facility (RRF) under the REPowerEU programme has not been adjusted. The REPowerEU volume in 2026 has been adjusted to 93 280 000, principally through transfer of allowances that would have otherwise been auctioned for the Innovation Fund, while 14 million additional allowances allocated to Member States in the years 2027 to 2030 will be auctioned. This adjustment has been done based on the provision of the second paragraph of Article 10(6) of the Auctioning Regulation, taking into account the revenue already obtained, the average auction clearing price for the six preceding calendar months, and the time remaining until 31 August 2026. Auctions for the RRF will end as soon as the targeted auction proceeds of EUR 20 billion will be reached, at the latest on 31 August 2026.
The auction volumes for 2025 and 2026 do not yet include any adjustments for the cancellation of maritime allowances provided for in Article 3gb and 12(3-e) of the ETS Directive. As the cancellation will be based on the difference between the reported emissions and the surrendered allowances, these numbers will be calculated after surrendering has taken place. As a result, the cancellation of auction volumes for maritime will be deducted from the 2026 auction volume through an amendment to the auction calendars to be adopted by the end of this year.
The 2026 auction volumes are calculated in accordance with the previously published:
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