First CBAM Certificate Price Published: €65.42/tCO₂ — What It Means

First CBAM Certificate Price: €65.42/tCO₂

The European Commission published the first official CBAM certificate price on 7 April 2026, establishing the financial benchmark for the first year of definitive CBAM compliance. The price of €65.42 per tCO₂ reflects the weekly average EU ETS auction price for the preceding week.

How the CBAM Certificate Price Is Calculated

CBAM certificate prices are set weekly by the European Commission based on the average price of EU ETS allowances at auction during the preceding calendar week. This is published every Monday on the official CBAM Registry portal at cbam.ec.europa.eu.

The weekly averaging mechanism means:

• CBAM certificate prices track EU ETS prices closely but with a one-week lag
• Price volatility is smoothed compared to daily ETS spot prices
• Importers can plan purchases based on weekly price announcements

Implications for South African Exporters

At €65.42/tCO₂, the first-year CBAM certificate price creates the following liability benchmarks for SA exporters using EU default emission values:

All figures include the 10% default emission markup penalty.

When Must Certificates Be Purchased?

CBAM certificates can be purchased from February 2027 onwards, when national competent authorities open their certificate sales systems. The first surrender deadline is 30 September 2027, covering all CBAM goods imported into the EU during the 2026 calendar year.

This means EU importers of South African steel, aluminium, fertilisers, cement, and hydrogen have until 30 September 2027 to:

1. Calculate the total embedded emissions in goods imported during 2026
2. Purchase the corresponding number of CBAM certificates
3. Surrender those certificates to their national competent authority

The Price Trajectory

The first certificate price of €65.42 is consistent with the EU ETS price range that has prevailed through early 2026. Analysts expect the price to remain in the €60–€80 range through 2026, with a structural upward trend as the EU tightens its emissions cap.

For planning purposes, South African exporters should model their 2026 CBAM liability at both the current €65.42 price and stress-test scenarios at €75 and €85 to understand their financial exposure range.

Monitor the Price Daily

The CBAM Registry provides a live EU ETS carbon price widget on the homepage [blocked], updated every 4 hours from official EU data sources. The price displayed is the best available proxy for the next CBAM certificate price announcement.