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

The report revealed that the cumulative trading volumes on both primary and secondary markets reached 9,26 billion EUAs, just 1,2% above the level of 9,15 billion EUAs from last year and well below the record of 12 billion EUAs set in 2021.

 

“After a strong upward trend in 2021, when the EUA price gained almost 150 percent in value, and a sideways movement with high price volatility in 2022, the year 2023 was also characterized by strong price fluctuations” summarized DEHSt the price trend of the EUAs in the past three years.

 

Furthermore, “due to an overall higher EUA price level, a new high mark was set with a market value of around € 740 billion”, noted DEHSt. The previous record of €700 billion was reached in 2022.

 

The report also revealed that operators of ETS-covered installations and aircraft operators purchased around 65% of the auctioned volumes on behalf of Germany in 2023, compared to 71% in 2022 and 68% in 2021. Also notable, in December 2023, the operators purchased just 46% of the auctioned volume, the lowest share since April 2020.