Stats › Currencies and commodities › Carbon auctions
The carbon auction cover ratio fell from 215 to 172 per cent in two years, and ten firms buy nine tenths of it
Auction cover ratio, meaning total bid volume as a percentage of volume offered. All auctions in 2024 were oversubscribed despite the fall. The ratio is a demand indicator and the three year direction is the point: bid cover has fallen by 43 percentage points while auction volume rose.
European allowance auctions are concentrated and their demand is thinning. The cover ratio fell from 215 per cent in 2022 to 172 per cent in 2024, while the top ten participants bought between 87 and 90 per cent of volume in every year measured.
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