EUA prices spent last week establishing themselves in a 11.0-11.5 €/t range, with a few intraday attempts to break below rebuffed by the market by the close. Still, the upward trend of the last nine months remains. The flat price gains have been supported by considerable outright buying, wit..
EUA prices continued to drift higher last week, with little in the way of short-term fundamentals supporting the move. The deadline for allocating free allowances was end-February, but some countries were tardy as usual and only 562 Mt (74%) of the total allowed allocation was distributed. Spain..
EUAs simply drifted up last week, largely immune to the effects of the ‘Beast from the East’ snowstorm, despite spiking prices in European gas and power markets. Rather, the main talking point for the ETS market was new analysis in a European Commission ‘non-paper’ on the..
February is ending with the ETS still in bullish mood, closing on Friday up again w/w, by 3.0% at 9.81 €/t. In recent weeks we have outlined why we believe the recent upward trend is sustainable and why prices are unlikely to fall significantly in the coming months, as the market increasingl..
EUAs have been on a rampant bull run through the last two months, with two distinct but very strong EUA price ramp-ups in the second half of December and mid-January, followed by a third jump at the start of February. All in all, the consistent uptick has added almost 3.0 €/t to the EUA pric..
The bull run which has characterised the EUA market since the second half of December continued last week, with Friday’s close up by 3.1% w/w at 9.52 €/t. Gains in the early part of the week were much higher, taking the within day EUA price over 10 €/t for the first time since 201..
Another week, another bounce on EUAs. The Dec-18 contract closed Friday up by 3% w/w at 9.23 €/t. The strength in the contract was reflective of the rapid downward pricing seen in European coal prices. M+1 Cif ARA dropped by 8.2% to 80.1 $/t in the last two weeks and global coal prices are n..
The last week saw at least a temporary halt to the bull run that opened 2018. The Dec-18 EUA closed the week at 8.96 €/t, down by 1.4% w/w following a bit of a Friday sell-off. To be fair, the upward run at the start of the year came despite the short-term demand fundamentals being generally more..
The 2018 bulls continue to reign supreme, as last week saw more strong gains. The Dec-18 EUA closed Friday at 9.09 €/t, up by 4% w/w. The market closed as high as 9.46 €/t earlier in the week, the highest close since February 2012. As we pointed out last week, the current upward run is..
2018 has started with the carbon bulls out in full force, with some strong gains as Dec-18 EUAs closed Friday at 8.76 €/t, up by 11.5% w/w. The EUA market is no stranger to pricing gaps and high market volatility. But the moves of the last two days of the week accounted for 58 of the 90 cents the..
2017 was another year of EU ETS policy developments adding to market price volatility. Much of that volatility drove upwards movements as the EU settled on a very bullish ETS reform package and the ‘Brexit clause’ added unnecessary disruption. The fundamentals are unlikely to be..
Given the lack of expected upcoming policy decisions at an EU level focused on the ETS, 2018 will be more about watching out for state-level domestic energy and environmental policy developments. One of those to watch is Germany, where political parties are completing negotiations to form a coali..
Trading in EUAs ended 2017 just as we had expected at the start of December. Front-year prices dropped as the Dec-17 contract neared expiry and a predominantly long market closed positions. After that, the lack of liquidity caused by the cessation of primary auctions over the holiday period allow..
In time to come, the carbon market will probably remember 2017 as the year the Phase 4 ETS legislative package was finally agreed. This process stretched across the year, with the European Council’s unusually quick agreement of their position followed by a lengthy trilogue. However, Phase 4 was n..
In the latest EU climate policy development, the European Parliament’s energy and environment committees voted through a proposed Regulation on the Governance of the Energy Union (RGEU) that would set the rules governing EU and national policies on energy and climate change from 2021 onward..