The European Energy Exchange (EEX), the European Commission and the 24 participating Member States have determined the auction calendar for the transitional common auction platform for 2012. The calendar details the timing and volumes for the “Early Auctions” of EU Allowances (EUA) of the third trading period and for the auctions of EU Aviation Allowances (EUAA) valid for 2012.
In its capacity as the transitional common auction platform, EEX will conduct the first EUA auction on 13 November 2012 and the first EUAA auction on 21 November 2012 on the Spot Market. The EUA auctions for the year 2012 will be held each Tuesday and Thursday until 18 December. Furthermore, EEX will auction EUAAs for 2012 on five individual dates by the end of the year. For each auction on the transitional common auction platform, the bidding window will be open from 1.00 to 3.00 p.m. CET. The auction times for 2013 will be announced at a later stage.
So far, not all Member States have concluded the necessary preparations that are required for their auctioneers to participate from the start. According to the EU Auctioning Regulation, the share of allowances of Member States joining the auction platform with delay will be withheld from the auctions.
11 Member States will take part in the first two „Early Auctions“, namely: Bulgaria, Spain, France, Italy, Latvia, Austria, Romania, Slovenia, Slovakia, Finland and Sweden. This results in a volume of 4,031,000 EUAs to be auctioned off on 13 November and on 15 November.
Until all of the Member States participating in the transitional common auction platform are admitted, EEX will review the auction calendar on a weekly basis and publish the volume changes two weeks in advance. If further auctioneers have joined, their quantities will be added to the auction volume. The additional certificates which have not been auctioned off so far will be distributed evenly over the next auctions. Volumes for the auctions two weeks following the publication of the auction calendar will be final; any increases to the auctioning amount pursuant to the weekly review will only take effect two weeks after the date of publication.
The weekly review will be followed by the publication of an auction calendar with updated volumes. Starting from 5 November 2012, EEX will publish the new calendar versions, if applicable (i.e. if new auctioneers have joined in the meantime), on each Monday after end of trading under the following link:
www.eex.com > Download > Documentation > EUA Primary Auction Calendar
The dates and the timing of the auctions will not be affected by additional auctioneers joining the auction platform at a later stage.
In addition to the 24 EU Member States who decided to use a common auction platform, Poland, Norway and Iceland have also confirmed their intention to auction their share of allowances through the transitional common platform. The process of joining the platform has already started for those countries.
