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Certificate management in the nEHS

Purchase, subsequent purchase and sale of certificates

In addition to the administrative tasks that participation in the nEHS entails, as a distributor of fuels you have had to manage a stock of national emission allowances (nEZ) since 2021.

In the 1st trading period 2021-2025, which is also referred to as the introductory phase, you can purchase nEZs in each year according to your needs at the respective fixed price on the European Energy Exchange (EEX). However, an inaccurate forecast of allowance requirements may result in your nEHS registry account showing a shortfall or surplus of nEZ on 30 September, the date of the nEZ submission to the German Emissions Trading Authority (DEHSt).

In order to ensure the economic efficiency of your certificate management, a reliable forecast of your fuel use is indispensable. It is important for you to keep in mind that during the introductory phase until 30 September of the year following the reporting year, certificates can still be purchased on the EEX at the fixed price of the previous year, but that this additional purchase option is limited to 10%.

If you find that your post-purchase budget on the EEX of 10% is not sufficient to cover your nEZ requirement, you must either buy at the higher fixed price on the EEX or try to obtain more attractive prices on the secondary market than the statutory fixed price. If, on the other hand, you have a nEZ surplus, you should sell the surplus nEZ by 30 September, as from 1 October the nEZ with the annual identification of the previous year lose their value. Precisely because of the inevitable differences between forecast and actual demand, a secondary market has already formed in the nEHS after the first reporting year.

Emissionshändler.com acts as a broker on this secondary market, bringing together the different interests of the companies and helping you to balance out your existing differences.

Do you have an additional purchase requirement that you can only cover with the higher fixed price of the current year? Do you still need to sell nEZ with the previous year's annual identification? We at Emissions Trader help you to achieve the best possible market prices for your quantities.


In the second trading period 2026-2030, you as a distributor need to actively participate in the auction market and/or secondary market as a manager of your allowance portfolio.

In the second trading period, there will no longer be fixed prices. There will be an exclusive auction of nEZs, initially in 2026 in a price range of 55-65 euros, then from 2027 in all likelihood without price restrictions.

The start of the auction phase will be accompanied by more liquid trading on the secondary market. The opportunities for you as an nEHS obligor should be higher than your risks with good and professional certificate management.

Good certificate management, which is clearly oriented towards your needs and results in appropriate trading decisions in good time, is essential in conjunction with the right trading partner at your side to ensure your economic approach in the nEHS.

A professionally run certificate management

  • saves you unnecessarily expensive re-purchases.
  • losses from expired nEZ.
  • takes into account the options available on the secondary market.
  • saves you time and nerves.
  • secures you decisive advantages over competitors.

Insofar as you wish to secure an advantage over competitors in the market, please contact Emissionshändler.com immediately to request a corresponding offer for your company affected by the BEHG. We would be pleased to welcome you as a customer.

Trading in certificates is generally not part of the core competence of companies subject to emissions trading, but it still requires the necessary expertise and sufficient human resources. In order to manage the risk arising from emissions trading in the best possible way, it makes sense to seek advice and support from a service provider such as Emissionshändler.com. Emissionshändler has been trading carbon credits for over 15 years and has helped many clients across Europe with its trading services.

We are happy to offer you our services as part of the commercial part of our CO2 carefree package, the nEHS package. The nEHS package is the complement to our BEHG package, which covers the administrative part of the CO2 carefree package.

Further information on: Certificates and registry account in the nEHS/BEHG