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The European Energy Exchange (EEX), in its capacity of the transitional auction platform for the Federal Republic of Germany, could not execute today's auction of EU Allowances (EUA) for the third trading period, because it would have cleared below the price on the secondary market. The reference price is calculated on the basis of the secondary market price during and immediately before the bidding window.
Due to the fact that minimum reserve price has not been reached, the auction could not be executed at the regular time. Therefore, EEX has decided to extend the call phase and re-open the bidding window for another 15 minutes. However, this measure could not ensure the reserve price required for the successful execution of the auction. In accordance with the auctioning regulation, governing the auctions, EEX has finished the auction without result.
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.
