Germany has earned a record amount from the sale of CO2 emission rights. In the first six months, 2.4 billion euros was raised. In the whole of last year, it was still an amount of 2.7 billion euros, and in 2019 it was 3.2 billion euros.
The certificates must be purchased by power plants and industries that emit large amounts of greenhouse gases. Additional rights can be purchased at an auction in Leipzig. The price has risen sharply in recent months.
One of the reasons that the price has risen is that Germany makes fewer certificates available. For example, Berlin wants to stimulate investment to reduce emissions.
The economy is also improving, which means that more energy is being used. As a result, fuel prices have also risen sharply. The price of electricity in Germany has not been this high since 2008.
The European Union’s emission rights have also become significantly more expensive this year.