| Description | The European Commission has adopted its annual Communication on the Total Number of Allowances in Circulation (TNAC), confirming that 190.5 million EU ETS allowances will be transferred into the Market Stability Reserve (MSR) between 1 September 2026 and 31 August 2027.
The annual TNAC calculation is a key mechanism for maintaining the balance of the European carbon market. By adjusting the supply of emission allowances available for auction, the Market Stability Reserve helps improve market stability, strengthen the carbon price signal and provide greater predictability for businesses investing in decarbonisation.
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