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Compiled daily
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€ per tonne of CO₂
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€ per tonne, all auctions
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to the countries in the system and EU funds
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bids ÷ allowances offered
The EU carbon price since 2020
Clearing price of every EU allowance auction. One allowance lets a power plant, factory, airline or ship emit one tonne of CO₂.
| Year | Average price | Revenue | Allowances auctioned | Average demand |
|---|
Where the money goes
Auction revenue so far this year by recipient: countries (green) and EU funds (purple) such as the Modernisation Fund for lower-income member states, the Innovation Fund for clean technology and the new Social Climate Fund.
The latest auctions
| Date | Auction | Price (€/t) | Allowances | Demand | Bidders | Revenue |
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“EU common” auctions are held for 25 member states, Iceland and Norway, and the EU funds together; Germany and Poland hold their own, and Northern Ireland, whose electricity generation stays in the EU system under the Windsor Framework, has one auction a year. Demand above 1× means more allowances were bid for than offered.
The shrinking cap
Are emissions falling?
A carbon price at the border
What this responds to
- Climate risk →The cap follows the EU’s climate targets.
What it drives
- Emissions outside the ETS →Farming is not in the EU ETS.
How we know this
- Source: EEX (European Energy Exchange), which runs the EU’s allowance auctions, publishes the result of every auction. Cap, emissions, reserve and CBAM facts from the European Commission.
- Update cadence: We read EEX’s results file every night; auctions take place several times a week.
- Methods: Auction clearing prices, volumes, demand and revenue as published, from 2020 (earlier years are in an older file format). Aviation allowance auctions are left out. Daily prices are weighted by volume where two auctions fall on one day.
- Uncertainty: The auction price follows the exchange price closely, but daily futures prices (behind exchange fees) can differ between auctions.
- Limitations: Not investment advice. Covers the EU ETS for power, industry, aviation and shipping, not the new ETS2 for buildings and road fuels.
- Primary data: EEX auction results · European Commission: EU ETS · How this page is built