The European Energy Exchange (EEX), the jointly selected common auction platform for the EU Emissions Trading System (EU ETS), released on Tuesday a revised auction calendar covering the period from June onward.

The calendar was adjusted for the second half of 2026 “to incorporate the provisions of the amended European Climate Law,” including “the additional auctioning in 2026 of 50 million allowances for the Social Climate Fund,” resulting in a 12% increase in auction volumes compared with the original schedule, according to Carbon Pulse calculations.

Volumes for the September–December period may be revised further to account for Market Stability Reserve (MSR) operations. In addition, auctions linked to allowances earmarked for the Recovery and Resilience Facility will cease once the facility’s revenue target has been reached, and no later than 31 August.

The carbon market reacted negatively to the announcement, with EUA prices moving lower as traders assessed the impact of the higher auction volumes expected in the second half of the year. Market participants viewed the revised auction calendar as a bearish signal for supply-demand dynamics, particularly after the confirmation that additional allowances will enter the market in 2026.

“This morning, the downtrend continues on reports of higher allowance allocations from the EU,” Mind Energy noted, highlighting growing concerns among traders that the increase in auction supply could place further downward pressure on carbon prices in the near term.