This update was corrected on 23 July to correct an error in the number of allowances being reallocated.
The published calendar reflects the operation of the Market Stability Reserve (MSR) from September until 31 December 2023. Following the publication by the Commission on 15 May 2023 of the total number of allowances in circulation in 2022, auction volumes from September to December 2023 are reduced by 90 783 578 allowances, which are placed in the MSR.
The calendar also incorporates the start of the auctioning of allowances allocated to the Recovery and Resilience Facility (RRF) under the REPowerEU plan. This plan was adopted in February 2023 and aims to generate revenues of EUR 20 billion until 31 August 2026. Those revenues are divided in two streams:
- In 2023, starting on 3 July, 19 126 000 allowances are reallocated from the Innovation Fund to the RRF, contributing towards the target of EUR 12 billion for the RRF. No additional allowances will be auctioned for the Innovation Fund in 2023.
- In 2023, starting on 3 July, 16 199 000 additional allowances will be auctioned for the RRF from the allowances that would otherwise be auctioned by Member States in 2027-2030. Those allowances will contribute towards the target of EUR 8 billion for the RRF.
- Further allowances will be allocated to the RRF in 2024-2026 until the EUR 20 billion revenue objective is reached.
The allowances for the RRF will be auctioned by EEX as common auction platform. The European Investment Bank will be the auctioneer for the allowances from each revenue part – ‘InnoFund RRF’ and ‘MS RRF’, respectively for the allowances reallocated from the Innovation Fund and the additional allowances from later Member States auctions.
There are no changes to the calendar dates. Auctions by the common auction platform will therefore continue to take place on Mondays, Tuesdays and Thursdays, auctions by Germany will be held weekly on Fridays and auctions on behalf of Poland are scheduled bi-weekly on Wednesdays.
The EU ETS Directive continues to apply from 1 January 2021 to and in the UK in respect of the generation of electricity in Northern Ireland. Further to the Protocol on Ireland/Northern Ireland, the UK will auction a volume of allowances corresponding to its share in the Union-wide cap. A single auction for Northern Ireland will take place on 4 October 2023.
The auction calendars for 2024 will be published in Q4 of 2023, following the entry into force of the revised Auctioning Regulation.
The 2023 auction volumes are calculated in accordance with the previously published:
