The EU will review ETS rules in 2026 — changes may affect free allocation, overall supply, expansion of the ETS scope, and compliance obligations.

Gradually from 2026, ending by 2034 for most sectors. In line with the phase-in of the Carbon Border Adjustment Mechanism (CBAM).

You can sell them on the market or hold them for future compliance. Grey Epoch can help monetise surplus EUAs through competitive market access and create opportunities for periodically recurring income from excess holdings — without compromising future compliance flexibility.

Grey Epoch can provide financing for your allowances. By providing EUAs as collateral you’re able to achieve more attractive financing rates, generally between 2%-5%.

One popular method is using forward contracts — buying now for future delivery and payment means you fix the price now, with the bulk of the payment and delivery at a date further into the future. This allows you to fix the price, without the full upfront costs. Additionally, can also enter into bespoke risk management structures that protect you from prices rising above a certain level.

• Spot purchases – buying allowances at the current market price for immediate delivery.

• Forward contracts – agreeing now on a price for delivery in the future, protecting against possible price rises.

• Limit orders – setting a maximum or minimum price you are willing to pay so purchases only happen within your set budget.

• Bespoke orders  - we develop procurement structures and strategies that fits your specific needs, from reducing volatility and optimising cash flows to lowering costs and generating income.

Operators failing to surrender sufficient allowances face a penalty of €100 per tonne of CO₂ emissions not covered, plus liability to purchase the missing allowances retrospectively.