Fixed-price phase (2021 until 2025)
The fixed-price phase in the national emissions trading system (nEHS) applies for the first five years from 2021 to 2025, during which the fixed price increases annually (with the exception of 2023). This is based on the Fuel Emissions Trading Act (BEHG) and its latest amendment, which came into force on 01/01/2024. It was decided that the CO2 price for the years 2024 and 2025 will return to the path provided for in the first amendment of the BEHG. The fixed price for a nEHS certificate (nEZ) and thus for one tonne of CO2 amounts to:
- 2021: 25 euros
- 2022: 30 euros
- 2023: 30 euros
- 2024: 45 euros
- 2025: 55 euros
The European Energy Exchange AG (EEX) in Leipzig was awarded the contract for the sale of nEHS certificates on 15/03/2021. The German Environment Agency (UBA) had put this task out to tender on a Europe-wide basis as the body responsible for the implementation of the nEHS. The mandate of EEX comprises the sale of nEZ during the entire fixed-price phase up to and including 2025. The EEX provides further information on various aspects of the sale on its website.
On 07/10/2022, the German Bundesrat approved the ‘Achtes Gesetz zur Änderung von Verbrauchsteuergesetzen’. With this amendment the reverse-charge procedure also applies for transactions of nEHS certificates in the German law on turnover tax (Umsatzsteuergesetz) (see website of the German Bundestag). The relevant legal bases can be found in Article 12 Number 2 in conjunction with 18 (4) of the act (see BGBl. I from 28/10/2022, p. 1838). The reverse-charge procedure entered into force on 01/01/2023.
Legal basis
(available in German only)
Brennstoffemissionshandelsgesetz (BEHG)
Bundesgesetzblatt Teil I - Haushaltsfinanzierungsgesetz 2024
Brennstoffemissionshandelverordung (BEHV)
Deutscher Bundestag - Achtes Gesetz zur Änderung von Verbrauchsteuergesetzen
Framework data for sale on the EEX
nEHS certificates are being offered for purchase on two dates per week. A calendar containing all sales dates for the current year is available on the European Energy Exchange (EEX) website. A time window of six hours is available for the participants to transmit their buy orders during the individual sales dates.
A limitation of the purchase volumes per participant at the applicable fixed price for nEHS certificates (nEZ) of the current year is not envisaged in the sales dates during the entire fixed price phase. In the respective following year, a limited post-purchase of nEZ with the vintage of the previous year is possible pursuant to paragraph 10(2) Fuel Emissions Trading Act (BEHG) (the ‘post-purchase rule’). The balance of nEHS certificates shown on the fuel distributor’s compliance account as of December 31 of each year forms the assessment basis for this purpose. In the following year, an obligated party as per BEHG can buy up to 10 percent of this balance of nEHS certificates at the previous year’s price on the EEX, or have them bought by intermediaries. Dates for the post-purchase can also be taken from the EEX respective current sales calendar.
A transaction fee of 0.0049 euros or 0.49 cents (0.0058 euros including VAT) is charged by EEX for each nEZ purchased. Fixed fees or charges do not apply.
Access to the EEX website
EEX website on nEHS sales results
Framework data for admission to the EEX
Obligated parties as per BEHG and other people entitled to admission pursuant to BEHG may submit an application for admission to the European Energy Exchange (EEX). The admission requirements can be viewed on the EEX website. In addition to direct participation in the sale, it is also possible in principle to acquire the nEHS certificates via another admitted participant (intermediary). Admission to the sales platform is therefore not mandatory. There are no costs for admission to EEX for the procurement of nEZ.
The nEHS certificates are sold on a sales platform provided by the EEX. EEX last organised an online seminar on the subject of ‘Access to sales’ on 03/04/2024 which was primarily aimed at new obligated parties per BEHG from 2024. In addition to information about gaining direct access via EEX, an overview of accessing EEX via intermediaries was also provided. For this purpose, a number of intermediaries briefly introduced themselves.
For questions and comments on the online seminars, please contact E-mail: nehs@eex.com directly.
To website of the EEX
Recordings of the EEX web seminars
(available in German only)
EEX Web-Seminar 2024: Marktzugang zur Teilnahme am nationalen Emissionshandel (nEHS)