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The European Energy Exchange (EEX), in its capacity of the transitional common auction platform, could not execute today's auction of EU Allowances (EUA) for the third trading period, because it would have cleared significantly below the price on the secondary market prevailing during and immediately before the bidding window.
In accordance with the rules governing the auctions the auction has been cancelled. The auction volume will now be evenly distributed over the next four scheduled auctions. The auction calendar will be adjusted accordingly and an updated version will be published soon.
In accordance with the Auctioning Regulation, and following co-ordinations with the European Commission and the participating Member States, EEX has determined a methodology for cancellation in case the auction would clear significantly below the secondary market price.
