Commission Implementing Regulation (EU) 2025/2548 of 10 December 2025 laying down rules for the application of Regulation (EU) 2023/956 of the European Parliament and of the Council as regards the calculation and publication of the price of CBAM certificates
Methodology for calculating the price of CBAM certificates in 2026
1. For each quarter in 2026, the Commission shall calculate the price of CBAM certificates as the quarterly average of the auction clearing prices of allowances as determined in accordance with Article 7 of Delegated Regulation (EU) 2023/2830.
2. The Commission shall calculate the price of a quarter during the first calendar week of the following quarter.
3. The auction clearing prices of all allowances auctioned pursuant to Articles 10 and 11 of Delegated Regulation (EU) 2023/2830 on the common auction platform as defined in Article 3, point (18), of that Regulation and on the opt-out auction platforms, as defined in Article 3, point (19), of that Regulation since the last calculation shall be taken into account. However, auctions which have been cancelled shall not be taken into account in the quarterly average calculation.
4. For each auction, the auction clearing price shall be weighted by the volume of the auctioned allowances.
5. The quarterly price of CBAM certificates shall be calculated in euro and rounded up or down to the nearest cent.
6. The quarterly price of CBAM certificates shall apply to CBAM certificates that correspond to the embedded emissions declared by authorised CBAM declarants in respect of the year 2026 for the quarter of importation of the goods in which those emissions are embedded.
Access to information regarding 2026
1. The auction platforms referred to in Article 1(3) shall provide all the necessary information for calculating the price of CBAM certificates in accordance with Article 1 to the Commission upon closure of the bidding window of each auction they operate.
2. The Commission shall have immediate, direct and free of charge access to the information referred to in paragraph 1.
Record keeping regarding 2026
1. The auction platforms and the Commission shall keep the information referred to in Article 2 electronically in a secure way until 31 December 2031.
2. Until 31 December 2031, upon request by the Commission, the auction platforms shall timely provide the information referred to in Article 2.
3. Until 31 December 2031, the auction platforms shall inform the Commission without undue delay of any relevant information that may have an impact on the calculation of the quarterly average price pursuant to Article 1.
Publication of the price of CBAM certificates regarding 2026
1. The Commission shall publish the quarterly price of CBAM certificates calculated pursuant to Article 1, on its website on the first working day, designated as such by the Commission pursuant to Article 2 of Regulation (EEC, Euratom) No 1182/71, of the calendar week following the week of calculation as referred to in Article 1(2) of this Regulation.
2. As from the third quarter of 2026, the Commission shall make the quarterly prices of CBAM certificates applicable in 2026 available to authorised CBAM declarants in the CBAM registry.
Methodology for calculating the price of CBAM certificates from 2027
1. From 1 January 2027, the Commission shall calculate the price of CBAM certificates every calendar week as the average of the auction clearing prices of allowances as determined in accordance with Article 7 of Delegated Regulation (EU) 2023/2830.
2. The auction clearing prices of all allowances auctioned pursuant to Articles 10 and 11 of Delegated Regulation (EU) 2023/2830 on the common auction platform as defined in Article 3, point (18), of that Regulation and on the opt-out auction platforms, as defined in Article 3, point (19), of that Regulation since the last calculation shall be taken into account. However, auctions which have been cancelled shall not be taken into account in the weekly average calculation.
3. For each auction, the auction clearing prices shall be weighted by the volume of auctioned allowances.
4. The price of CBAM certificates shall be calculated in euro and rounded up or down to the nearest cent.
5. The price of CBAM certificates shall apply to CBAM certificates that are sold to the authorised CBAM declarants during the period set out in Article 21(2) of Regulation (EU) 2023/956.
Access to information from 2027
1. From 1 January 2027, the auction platforms shall provide all the necessary information for calculating the price of CBAM certificates in accordance with Article 5 to the Commission upon closure of the bidding window of each auction they operate.
2. The Commission shall have immediate, direct and free of charge access to the information referred to in paragraph 1.
Record keeping from 2027
1. The auction platforms and the Commission shall keep the information referred to in Article 6 electronically in a secure way for a period of five calendar years after the calendar year to which the information relates.
2. Upon request by the Commission, the auction platforms shall timely provide the information referred to in Article 6 during the period referred to in paragraph 1 of this Article.
3. During the period referred to in paragraph 1 of this Article, the auction platforms shall inform the Commission without undue delay of any relevant information that may have an impact on the calculation of the average price pursuant to Article 5.
Publication of the price of CBAM certificates from 2027
1. The Commission shall publish the price of CBAM certificates, calculated pursuant to Article 5, on its website on the first working day, designated as such by the Commission pursuant to Article 2 of Regulation (EEC, Euratom) No 1182/71, of the calendar week which follows the relevant auctions.
2. The Commission shall make the price of CBAM certificates available to authorised CBAM declarants in the CBAM registry on the first day of application of that price.
Entry into force and application
This Regulation shall enter into force on the third day following that of its publication in the Official Journal of the European Union .
It shall apply from 1 January 2026.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.
