Forthcoming publication of the annual surplus indicator (total number of allowances in circulation) for the Market Stability Reserve under the EU ETS

On 1 June 2024 at 10.00am CET, the European Commission will publish the total number of allowances in circulation (TNAC) on the EU carbon market in 2023.

The TNAC plays an important role in the functioning of the Market Stability Reserve (MSR) of the EU Emissions Trading System (ETS). It determines whether allowances are withdrawn to or released from the MSR.  

The forthcoming TNAC publication will be the first following the revision of the Decision 2015/1814 (MSR Decision) and Directive 2003/87/EC (ETS Directive) in 2023.

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• Market Stability Reserve