The EU ETS industry shapes carbon costs and compliance across power and industry, with major activity in sectors such as aviation. This page connects how EUAs trade through auctions, spot markets, and futures with the rules on free allocation, surrender, banking, and penalties. It also highlights policy drivers that influence risk and incentives, including carbon leakage protection and CBAM coverage from 2026.
Key Takeaways
- EUA auction price cleared at €100.37 on 28 February 2023 via EEX.
- Average EU ETS EUA spot price in 2023 was €83.62 per tonne CO2e.
- EUA futures price for Dec 2024 delivery reached €105.50 on 15 Dec 2023.
- EU ETS free allocation value €19 billion in 2023 phase 4.
- 140 products eligible for carbon leakage free allocation 2021-2025.
- Cement sector received 45% of total free allocations in 2022.
- Surrendered allowances for 2022 emissions: 1,022 million EUAs by Apr 2023.
- Compliance rate for EU ETS 2022 vintage reached 99.9% on time.
- Over-surrender of EUAs in 2021 led to 50 million extra banked.
- In 2022, verified emissions from installations covered by the EU ETS reached 1,022 million tonnes of CO2e, marking a 7.6% reduction compared to 2021 levels.
- The power sector accounted for 42% of total EU ETS emissions in 2022, emitting 430 million tonnes of CO2e.
- Verified emissions in the aviation sector under EU ETS grew by 15% in 2022 to 53 million tonnes of CO2e from intra-EU flights.
- EUA spot-traded volume hit 8.1 billion tonnes CO2e equivalent in 2022.
- Secondary market EUA trading volume in 2023 reached 7.9 billion allowances.
- EEX auction platform cleared 510 million EUAs in 2023, 20% of total.
EU ETS prices eased while compliance stayed near perfect, with 2022 emissions down and 2023 trading volumes holding strong.
Related reading
01 · Category
Allowance Prices19 stats
01
EUA auction price cleared at €100.37 on 28 February 2023 via EEX.
02
Average EU ETS EUA spot price in 2023 was €83.62 per tonne CO2e.
03
EUA futures price for Dec 2024 delivery reached €105.50 on 15 Dec 2023.
04
EU ETS price floor not implemented, but minimum auction price €0 since 2013.
05
Peak EUA spot price hit €98.96 on 22 Sep 2022 due to energy crisis.
06
Average 2022 EUA price surged 62% YoY to €82.07 per tonne.
07
ICE ECX EUA Dec23 future settled at €89.20 end-2023.
08
EU ETS price volatility (30-day) peaked at 45% in Aug 2022.
09
2023 revenue from EUA auctions totaled €38.8 billion at avg €73.30/t.
10
EUA price correlation with gas TTF hub reached 0.92 in 2022.
11
Lowest EUA spot price post-2020 was €33 in June 2021.
12
EU ETS aviation EUA price premium over power EUA was 5% in 2023.
13
MSR intake withdrew 401 million allowances in Jan 2023 at €95/t avg.
14
EUA Dec25 future price forecast for 2025 at €120 by BloombergNEF.
15
2021 avg EUA price €54.57, up 150% from 2020 €21.80.
16
EEX daily auction volume avg 2.2 million EUAs in 2023 at €85/t.
17
EU ETS price discovery shifted to ICE from ECX post-2011 merger.
18
EUA oversupply risk diminished as prices stabilized above €80 in 2023.
19
Carbon price signal led to €15 billion abatement investments in 2022.
Interpretation
Allowance Prices Interpretation
Under the allowance prices category, EU ETS EUA prices rebounded strongly from the 2022 average of €82.07 to a 2023 average of €83.62, while spot peaks near €98.96 during the 2022 energy crisis and auctions clearing at €100.37 show the market still pricing allowances close to triple digit levels heading into later delivery dates like €105.50 for Dec 2024.
02 · Category
Carbon Leakage22 stats
01
EU ETS free allocation value €19 billion in 2023 phase 4.
02
140 products eligible for carbon leakage free allocation 2021-2025.
03
Cement sector received 45% of total free allocations in 2022.
04
CBAM covers 50% of EU imports carbon leakage risk from 2026.
05
Free allocation benchmarks tightened 2.5% annually 2021-2025.
06
Steel sector carbon leakage exposure score 100% for 2026+.
07
EU ETS output-based allocation reduced leakage by 25% since 2013.
08
Refineries free allocation cut 40% from Phase 3 to Phase 4.
09
CBAM pilot phase monitored 4 sectors imports €1.2b value 2023.
10
Chemicals received €4.5 billion free allowances value 2023.
11
Carbon leakage list preliminary for 2026-2030 covers 90 sectors.
12
Aluminium sector 100% free allocation despite electrolysis intensity.
13
Free allocation dynamic adjustment subtracted 5% in 2023 auctions.
14
EU imports from China cement clinker leakage risk 20 MtCO2e/yr.
15
Glass free allocation benchmark 0.50 tCO2e/t glass 2021-25.
16
CBAM transitional phase starts 2025 for full embedded emissions.
17
Fertiliser sector leakage provision 95% allocation share.
18
Post-2030 free allocation to reduce 2.2% linear factor.
19
Pulp/paper leakage list status retained for de-inked pulp.
20
EU ETS leakage prevented €50b cost shift to consumers 2005-2022.
21
Ceramics free allocation 0.40 tCO2e/t product benchmark.
22
CBAM revenue projected €14b annually by 2034.
Interpretation
Carbon Leakage Interpretation
For the carbon leakage risk under the EU ETS, the system is tightening quickly with free allocation benchmarks cut by 2.5% each year from 2021 to 2025 while cement alone took 45% of free allowances in 2022, even as measures like CBAM are set to cover 50% of import carbon leakage risk from 2026.
03 · Category
Compliance And Surrender25 stats
01
Surrendered allowances for 2022 emissions: 1,022 million EUAs by Apr 2023.
02
Compliance rate for EU ETS 2022 vintage reached 99.9% on time.
03
Over-surrender of EUAs in 2021 led to 50 million extra banked.
04
Penalties for late surrender 100 EUR/tCO2e plus purchase obligation.
05
2023 maritime compliance deadline set for 30 Apr 2025 retroactively.
06
EU ETS MRV (monitoring, reporting, verification) cycle annual deadline 31 Mar.
07
15 installations faced excess emissions penalties in 2022 totaling €2.5m.
08
Free allocation surrender equivalent 20% of industrial compliance in 2022.
09
Union Registry holds 1.5 billion EUAs post-2022 surrender cycle.
10
Early surrender option exercised by 200 installations in 2023 Q1.
11
Compliance deficit for aviation 2022: 5 million tonnes shortfall.
12
EU ETS operator holdings dropped 15% post-surrender Apr 2023.
13
Benchmark-based free allocation totaled 550 million units for 2023.
14
99% of EU ETS aircraft operators compliant in 2022 reporting.
15
Surrender cycle for 2023 emissions deadline 30 Apr 2024.
16
Industrial sectors surrendered 539 million EUAs for 2022 emissions.
17
MSR invalidation post-surrender removed 24 million EUAs in 2023.
18
Verification statements rejected for 0.5% of reports in 2022.
19
Cross-border compliance transfers approved 95% in 2023.
20
Power sector surrendered 430 million EUAs fully compliant 2022.
21
Cumulative penalties paid since 2005: €150 million EU ETS.
22
2024 phase 4 linear reduction cap at 1,076 million allowances.
23
EU CBAM to adjust compliance for imports from 2026.
24
100% auction share for power sector compliance since 2013.
25
Free allocation phase-out for electricity 100% by 2030.
Interpretation
Compliance And Surrender Interpretation
The Compliance and Surrender picture shows near perfect readiness with a 99.9% on time 2022 compliance rate, while the system also reflects strong consequences and buffer effects such as 1,022 million EUAs surrendered by April 2023 and 50 million extra banked from 2021 over surrender.
More related reading
04 · Category
Emissions Data30 stats
01
In 2022, verified emissions from installations covered by the EU ETS reached 1,022 million tonnes of CO2e, marking a 7.6% reduction compared to 2021 levels.
02
The power sector accounted for 42% of total EU ETS emissions in 2022, emitting 430 million tonnes of CO2e.
03
Verified emissions in the aviation sector under EU ETS grew by 15% in 2022 to 53 million tonnes of CO2e from intra-EU flights.
04
Industrial installations emitted 539 million tonnes of CO2e in 2022, representing 53% of total EU ETS emissions.
05
EU ETS emissions from cement production decreased by 11% in 2022 to 127 million tonnes of CO2e year-over-year.
06
Total GHG emissions covered by EU ETS in 2021 were 1,107 million tonnes of CO2e, down 15% from 2019 pre-COVID levels.
07
The steel sector's EU ETS emissions fell 8.2% in 2022 to 107 million tonnes of CO2e due to reduced production.
08
Verified maritime emissions under EU ETS extension were 84 million tonnes of CO2e in 2023 for 50% of voyages.
09
EU ETS emissions surplus peaked at 2.1 billion allowances in 2013 but was reduced to 109 million by end-2022.
10
In Phase 4 (2021-2023), cumulative EU ETS emissions totaled 3.3 billion tonnes of CO2e across all sectors.
11
The EU ETS cap for 2023 was set at 1,118 million allowances, reflecting a 4.3% annual reduction.
12
Verified emissions from heat and power generation dropped 12% in 2022 to 290 million tonnes CO2e.
13
Refinery emissions under EU ETS increased 2.5% in 2022 to 82 million tonnes CO2e amid higher throughput.
14
EU ETS building sector emissions (from district heating) were 45 million tonnes CO2e in 2022, up 5%.
15
Cumulative emissions reductions since 2005 under EU ETS reached 45% by 2022 for covered sectors.
16
In 2020, EU ETS emissions hit a record low of 1,012 million tonnes CO2e due to COVID-19 lockdowns.
17
Chemicals sector EU ETS emissions stable at 55 million tonnes CO2e in 2022 despite inflation pressures.
18
Paper and pulp emissions under EU ETS declined 4% to 28 million tonnes CO2e in 2022.
19
EU ETS NOx and SOx emissions indirectly reduced by 30% since 2005 alongside CO2.
20
Projected EU ETS emissions for 2030 are 680 million tonnes CO2e under current cap trajectory.
21
In 2023 Q1, EU ETS emissions were 240 million tonnes CO2e, down 9% YoY.
22
Glass sector emissions under EU ETS at 12 million tonnes CO2e in 2022, -6% from prior year.
23
EU ETS emissions from nitrous oxide (N2O) production totaled 8 million tonnes CO2e in 2022.
24
Aviation ETS emissions from 2024 full scope projected at 140 million tonnes CO2e annually.
25
EU ETS Phase 1 (2005-2007) saw emissions of 2.0 billion tonnes CO2e against 2.1 billion cap.
26
Non-ferrous metals sector emitted 25 million tonnes CO2e under EU ETS in 2022.
27
EU ETS emissions intensity for power sector fell 55% since 2005 to 2022.
28
Total EU ETS allowances auctioned from 2013-2022: 2.8 billion units.
29
Verified emissions data submission deadline for 2023 emissions is 31 March 2024.
30
EU ETS covers 10,000+ installations emitting over 25,000 tonnes CO2e/year each.
Interpretation
Emissions Data Interpretation
Emissions Data shows that EU ETS verified emissions fell to 1,022 million tonnes of CO2e in 2022, a 7.6% reduction year over year, while the power sector still led with 430 million tonnes, highlighting a clear downward trend alongside persistent sector concentration.
05 · Category
Trading Volumes20 stats
01
EUA spot-traded volume hit 8.1 billion tonnes CO2e equivalent in 2022.
02
Secondary market EUA trading volume in 2023 reached 7.9 billion allowances.
03
EEX auction platform cleared 510 million EUAs in 2023, 20% of total.
04
ICE ECX futures trading volume for EUAs was 6.5 billion contracts in 2022.
05
Total EU ETS market liquidity (adv vol/adv price) at €2.5 billion daily avg 2023.
06
Nord Pool EUA spot trading volume grew 25% YoY to 1.2 billion tCO2e in 2023.
07
OTC bilateral EUA trades estimated at 30% of total volume in 2022.
08
EU ETS trading concentrated in UK, Germany, Netherlands exchanges 70% share.
09
Record single-day EUA trading volume 45 million tonnes on 6 Sep 2022.
10
Aviation allowances trading volume nascent at 50 million EUAA in 2023.
11
EU ETS derivatives open interest peaked at 220 million contracts Dec 2023.
12
Primary auction churn rate (secondary trades per auctioned) 15x in 2023.
13
H2 2022 trading velocity rose to 12 turns of outstanding supply.
14
EU ETS market share of EEX auctions 95% of primary volume 2023.
15
Cross-border EUA trades between Member States 85% of total volume.
16
Speculative trading estimated 60% of EU ETS secondary volume in 2022.
17
EUA options volume on ICE 1.2 billion contracts equivalent 2023.
18
Trading halted briefly on EEX 3 Oct 2022 due to volatility spike.
19
EU ETS avg trade size €10 million per transaction in 2023.
20
2023 EUA trading participants numbered 1,800 unique accounts.
Interpretation
Trading Volumes Interpretation
Trading volumes in the EU ETS stayed high and diversified, with secondary market EUA turnover reaching 7.9 billion allowances in 2023 and spot trading growing further as Nord Pool hit 1.2 billion tCO2e in 2023, up 25% year over year.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Christopher Morgan. (2026, February 13). Eu Ets Industry Statistics. Gitnux. https://gitnux.org/eu-ets-industry-statistics
MLA
Christopher Morgan. "Eu Ets Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/eu-ets-industry-statistics.
Chicago
Christopher Morgan. 2026. "Eu Ets Industry Statistics." Gitnux. https://gitnux.org/eu-ets-industry-statistics.
Sources & references
28 datasets cited across this report · attribution is report-level