Fastmarkets launches CBAM certificate assessments

The prices aim to bring greater clarity to CBAM certificate costs, providing a daily indicator of prices at the end of each quarter in 2026 as well as a rolling volume weighted average of European Emission Allowances (EUAs) during each quarter to highlight costs already baked in to the CBAM certificate price.

CBAM certificate pricing is inherently backward-looking, with certificate prices for each quarter confirmed and published by the EU only in the week after the quarter closes in 2026. Fastmarkets’ prices allow market participants to have a robust reference for the direction of certificate costs and, along with the Fastmarkets’ CBAM cost calculator, provide insight into their own CBAM costs for each reporting period.

The prices and specifications are as follows:

CB-CC-0042 CBAM Certificate Index, €/tCO2e
Quality: Indicator of final CBAM certificate price at the end of the current reporting period.
Quantity: One CBAM Certificate (one tCO2e)
Location: Europe
Timing: Current quarter in 2026, changing to current week from 2027
Unit: Euro per tonne CO2 equivalent
Publication frequency: Daily, London holiday schedule
Calculation: Price = Sum[eligible cleared auction price * cleared auction volume] + Sum[EOD European Allowance (EUA) price * remaining scheduled auction volumes for period]) / Sum[total auction volumes for period]

CB-CC-0041 CBAM Certificate Builder, €/tCO2e
Quality: Volume weighted average of cleared auctioned European Emission Allowances (EUAs) during the current reporting period.
Quantity: One CBAM Certificate (one tCO2e)
Location: Europe
Timing: Current quarter in 2026, changing to current week from 2027
Unit: Euro per tonne CO2 equivalent
Publication frequency: Daily, London holiday schedule
Calculation: The daily value represents the current volume weighted average of eligible EUA auctions during the current CBAM reporting period (quarterly in 2026, weekly from 2027)

At the same time, prices have been backfilled to January 7, 2026, providing historical data from the first EUA auction after the start of the definitive phase of CBAM at the beginning of the year.

These prices are part of the Fastmarkets Carbon CBAM package.

To provide feedback on these prices please contact pricing@fastmarkets.com and carbonpricing@fastmarkets.com. Please add the subject heading “Re: CBAM certificate assessments.” 

Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.

To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.