The German Emissions Trading Authority (DEHSt) published on Thursday its report on the country’s auction results for the first ten months of 2023. The document also “contains a comprehensive overview of secondary market developments,” as stated by DEHSt.

In October 2023, a total of 909 million allowances were traded on both primary and secondary market, the second largest this year following over 1 billion allowances traded in March.

Source: DEHSt, chart by EMBA Power

Between January and October 2023, the market value totaled around €7,34 billion allowances.  The figure is 1,3% below the same period last year and it is the lowest since 2017. The biggest traded volume for the first ten months was recorded in 2021 with 9,32 billion allowances.

 

Also in October 2023, around 59 million allowances were auctioned on behalf of the member states, representing around 7% of the total market. Overall, operators purchased just 56% of the total volumes on the primary markets.

 

The moving averages of the past 12 months was 65% Furthermore, last October, operators purchased approximately 72% of the auctioned volumes, both indicators suggesting declining interest from compliance buyers.