Carbon weekly

  • European carbon

    European carbon cover image Published 20 May 2019 by
    Two announcements last week helped resolve some minor uncertainty around the 2019 and 2020 EU ETS balances. The first was the late Wednesday announcement by the European Commission that the total number of allowances in circulation (TNAC) for 2018 was 1.65 Gt, largely the same as last year. The p..

    Read more

  • European carbon

    European carbon cover image Published 13 May 2019 by
    The German government has been engaging in a lengthy discussion over extending carbon pricing to sectors not currently covered by the EU ETS. The two main sectors mentioned are transport and construction, although the CO2 associated with the manufacture of building materials such as cement, glass..

    Read more

  • European carbon

    European carbon cover image Published 7 May 2019 by
    The EUA market feels like it is settling into a new trading range, with prices currently in the middle of 24-28 €/t. A notable feature of trading over the last few weeks—during which there has been a sharp move up at the start of April, followed by a downward correction—is that t..

    Read more

  • European carbon

    European carbon cover image Published 29 Apr 2019 by
    Next week's Carbon Weekly will be published on Tuesday 7 May, owing to the UK bank holiday.Just when it looked like the EUA market was going to settle into a new range, technicals kicked-in and prices dropped. Over most of last week, the market traded in a tightening range around 27.4 €/t. T..

    Read more

  • European carbon

    European carbon cover image Published 23 Apr 2019 by
    In a relatively uneventful week, EUA prices settled into a new range between 26-28 €/t. With Brexit news not expected to resurface in the coming week, the market will be looking more at technicals for direction than fundamentals. Some late compliance buying could come from British Steel, a m..

    Read more

  • European carbon

    European carbon cover image Published 15 Apr 2019 by
    Next week's edition of Carbon weekly will be published on Tuesday 23 April, owing to the UK bank holiday.EUA prices held onto the gains provided by the Brexit relief rally, closing Friday up by 8% w/w at 26.58 €/t, with the chaos of a no-deal Brexit avoided for now. A fractious EU eventually deci..

    Read more

  • European carbon

    European carbon cover image Published 8 Apr 2019 by
    EUA prices gapped up in the second half of last week despite 2018 verified emissions coming in at an implied 3.8% y/y fall when data was released on 1 April, which was toward the high end of expectations for the drop. By Friday’s close (5 April), Dec-19 was at 24.6 €/t (+14% w/w). The surge in pr..

    Read more

  • European carbon

    European carbon cover image Published 1 Apr 2019 by
    1 April always involves the release of verified emissions data for EU installations for the previous calendar year. Today’s data release contained verified data for 90% of installations classified as still operational, with the rest of the installations all late in reporting. On a like-for-like b..

    Read more

  • European carbon

    European carbon cover image Published 25 Mar 2019 by
    It was another eventful week in the UK’s Brexit saga, which helped further soften EUA prices to 20.7 €/t, down by 8% w/w. The EU 27 members agreed last week to extend the Article 50 deadline from 29 March to 12 April. They promised the UK an automatic extension to 22 May if the Prime Minister’s c..

    Read more

  • European carbon

    European carbon cover image Published 18 Mar 2019 by
    Though we are loath to let our weekly become a Brexit blog, we cannot help but flag what will be another meaningful week in Brexit developments with only 11 days until the Article 50 deadline. Last week’s series of frantic votes in the UK Parliament went largely as expected as MPs rejected Prime..

    Read more

  • European carbon

    European carbon cover image Published 11 Mar 2019 by
    It is going to be another big week for risk around Brexit in the European carbon market. A second vote in the UK parliament is scheduled for Tuesday (12 March) on what looks to be a largely unmodified version of prime minister Theresa May’s Brexit deal that was defeated by a margin of 230 v..

    Read more

  • European carbon

    European carbon cover image Published 4 Mar 2019 by
    One of the weights on the carbon price this year has been Brexit risk—the fear over what will happen to the European economy and asset prices in the event of a no-deal UK exit. The perception of the risks around a no-deal scenario had grown in recent months with the deadline of 29 March for..

    Read more

  • European carbon

    European carbon cover image Published 25 Feb 2019 by
    EUAs explored a new lower range last week, after breaking out of the technical range that had held for the better part of seven weeks in the week ending 15 February. We think that new lower range will be between 18.0-21.3 €/t, at least in the run-up to the Brexit Article 50 deadline of 29 March...

    Read more

  • European carbon

    European carbon cover image Published 18 Feb 2019 by
    After spending six weeks cycling in a technical range (21.3-25.7 €/t), EUAs finally broke out to the downside late last Tuesday (12 February). This did not trigger a massive EUA sell-off, but prices failed to return to the previous support level, which is likely to herald a period where the marke..

    Read more

  • European carbon

    European carbon cover image Published 11 Feb 2019 by
    EUAs continued to trade steadfastly in a 21.4–25.7 €/t technical range last week, closing Friday in the lower part of the range but posting an 1.7% w/w gain. While there was no surprise in that technical trading range, it was a very soft week for the related fuels complex. The EU natur..

    Read more