Climate fund
Selling emission rights brings in 12.5 billion euros
The sale of CO2 emission rights brought the state revenues of 12.5 billion euros last year. Photo: Patrick Pleul / dpa-Zentralbild / dpa
© dpa-infocom GmbH
A CO2 tax has also been levied on fuels and heating gas since 2021. The income flows into the climate fund. In the past year, a lot of money was raised there from the sale of emission rights.
The sale of emission rights for the greenhouse gas carbon dioxide brought the state revenue of 12.5 billion euros last year, a record.
The main reason is the first sale of national emission rights (CO2 tax), which alone – as expected – generated 7.2 billion euros. At the same time, the income from the sale of rights in European emissions trading doubled from 2.7 in 2020 to 5.3 billion euros, as reported by the Federal Environment Agency in Berlin. The German Emissions Trading Authority responsible for the sale of rights is located there. Against the background of climate change, the pricing of carbon dioxide should give the economy and consumers an incentive to use fewer fossil fuels.
The money goes to the Energy and Climate Fund (EKF), which among other things supports climate protection projects. In addition, 4.7 billion euros were used through the EKF in 2021 to lower the EEG surcharge, which is used to promote green electricity production. Thanks to the subsidy, the rise in electricity prices in Germany could be curbed somewhat.
Prices for CO2 certificates are increasing
“The income from CO2 pricing makes an important contribution to the implementation of the energy transition, finances climate protection projects and is also used to relieve the burden on consumers,” said the President of the Federal Environment Agency, Dirk Messner, according to the announcement. This shows that climate protection and social equality can go hand in hand. “This can and must be possible even if CO2 prices continue to rise.”
Power plants and other industrial plants require the European authorizations – they have to submit a certificate to the emissions trading office for each tonne of CO2 emitted. You can acquire these pollution rights, among other things, at auctions on the energy exchange in Leipzig. Prices there have risen over the past few years, most recently sharply. While a certificate cost an annual average of just under 25 euros in 2020, an average of almost 53 euros was due in 2021. At the last auction in 2021 on December 17, the highest price since the start of the auctions in 2010 was achieved at a German auction at EUR 82.25.
National emissions trading system
In addition to the European emissions trading system that began in 2005, a national emissions trading system was launched in 2021. The so-called CO2 tax is intended to help reduce climate-damaging CO2 emissions in the areas of heating and transport. Until 2022, only the main fuels gasoline, diesel, heating oil, liquid and natural gas will be part of the system. From 2023 coal will also be added. The so-called distributors, such as gas suppliers or mineral oil companies, have to acquire the certificates. The additional costs are usually passed on to the end user.
In contrast to the European system, the certificates are issued at fixed prices in the first few years. They will only be auctioned from 2026, when the amount of available certificates will also be reduced. In 2021 a certificate for one tonne of carbon dioxide cost 25 euros, in 2022 it will cost 30 euros. The price will then gradually increase to 55 euros by 2025. According to calculations by the Emissions Trading Authority, the CO2 tax, which will increase by five euros in 2022, will increase the price of premium gasoline, diesel and heating oil by one cent per liter compared to the previous year.