The European Commission has calculated and published the first reference price for CBAM certificates for the first quarter of 2026 , amounting to EUR 75.36This announcement marks an important milestone in the implementation of the Carbon Border Adjustment Mechanism (CBAM) in the European Union.
CBAM entered into force on 1 January 2026, and from this year companies in the EU importing aluminium, cement, electricity, iron and steel, hydrogen and fertilisers from countries outside the EU are required to pay a carbon-emissions charge under this mechanism. The deadline for surrendering CBAM certificates for 2026 emissions is 31 May 2027.
The European Commission announced that CBAM prices will be published quarterly in 2026, switching to weekly updates from 2027. The quarterly price is calculated as the average auction clearing price of emission allowances under the EU Emissions Trading System (EU ETS).
Each published price will apply to emissions embedded in CBAM goods imported during the relevant quarter, ensuring a harmonised and predictable calculation of costs for importers.
According to the Commission's explanation, earlier and regular publication of prices is intended to increase transparency, reduce the risk of unofficial or inaccurate market estimates, and provide a clear reference point for business planning.
It was also emphasised that authorised CBAM declarants will begin purchasing certificates in February 2027, when they will cover 2026 emissions, using the previously published quarterly reference prices as the basis for calculation.
Through this approach, the European Commission is establishing a predictable and transparent system for determining CBAM costs, with the aim of making it easier for companies to adapt to the new regulatory framework and plan their supply-chain costs.