The German Emissions Trading Authority (DEHSt) published last week its report on the country’s auction results for the first month of 2024.  The document also “contains a comprehensive overview of secondary market developments,” as stated by DEHSt.

According to the agency, trading volumes on both the primary and the secondary market reached 873 million allowances, a 17% increase compared to January 2023. The price for Dec’24 contracts “fluctuated within an interval between €81.25 and € 60.86, the lowest level since March 2022.” 

The report also revealed that operators of ETS-covered installations and aircraft operators purchased on the primary market just 41% of the auctioned volumes in January 2024, “the lowest level since April 2020” and well below the average for the past 12 months which stood at 58%. It is for the second month in a row that the share of operators dropped below 50%, considering that in December, the share was 46%.

Recently, the operators’ share of the purchased auction volume has fallen, suggesting increasing buying interest from other bidding categories eligible to take part in the auctions such as credit institutions, investment firms, and business groupings.