The German Emissions Trading Authority (DEHSt) published last week its report on the country’s auction results for both the second quarter and the first half of 2023. The document also “contains a comprehensive overview of secondary market developments,” as stated by DEHSt.

In the first half of 2023, the traded volume for the secondary, as well as the primary market, totaled 4,52 billion EUA. “Around 6 percent of the traded volume was related to auctions,” explains the report.

The level is about 5% below the previous year’s level and down 18% compared to the same period in 2021.  The last time the volume was this low was in the first half of 2019, prior to the pandemic.

The report also includes a detailed analysis of German auction results. Revenues in the first half of 2023 totaled €3,89 billion, “around  14 percent higher than the previous record result from the last year of € 3.40 billion.”

According to DEHSt, operators of ETS installations purchased just 54% of the auctioned volumes in June, the lowest since July 2020 and well below the average of the past 12 months which is 68%.  That means that credit institutions, investment firms, and business groupings bought almost the same volume as compliance companies.