The European Energy Exchange (EEX), in coordination with the German Emissions Trading Authority (DEHSt) at the German Environment Agency (UBA), has published the preliminary 2026 calendar of German national emissions trading system certificates (nEZ / nEHS certificates) with the year identifier 2026.

nEHS certificates will be auctioned on EEX for the first time this year. Auctions will take place for two hours each Monday, from 1:00 PM to 3:00 PM CE(S)T. The first auction is scheduled for 6 July 2026 (subject to approvals by the relevant regulatory authorities), and the last auction for the year is planned for 2 November 2026. A price corridor of €55 to €65 will apply to these auctions.

The total auction volume for 2026 as listed in the auction and sales calendar is based on a preliminary and non-binding estimate of 195 million nEHS certificates. The final total auction volume will be published by the DEHSt by 30 April 2026. Following this publication, EEX will update the volumes in the auction and sales
calendar as soon as possible.

The published calendar includes the planned auction dates. In the event of adjustments to the auction volumes and/or dates, EEX will update and re-publish the calendar in due time.

Following the auctions, sales of nEHS certificates with the year identifier 2026 will take place on EEX between November and the beginning of December 2026 in unlimited quantities at an excess quantity price of €68/nEZ. These sales will take place on Tuesdays and Thursdays, with the first sale taking place on 3 November 2026, and the last being scheduled for 3 December 2026.

The preliminary auction and sales calendar for the German national emissions trading system for 2026 is available here.

The European Energy Exchange (EEX) is a leading energy exchange which builds secure, successful and sustainable commodity markets worldwide – together with its customers and partners. As part of EEX Group, it serves international power, natural gas, environmental, freight and agricultural markets, and provides data, reporting and registry services. EEX is an enabler of the energy transition and decarbonisation, advancing renewables integration through dedicated products and services, including those related to guarantees of origin. More information: www.eex.com