Emissions

  • European carbon

    European carbon cover image Published 22 May 2017 by

    Next week's edition of Panorama will be published on Tuesday 30 May, owing to the UK bank holiday. Last week’s price action was very much against the recent trend, with EUAs closing on Friday up by 8.7% w/w at 4.83 €/t. Given that the fundamentals had become less supportive—temperatures were sig..

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  • European carbon

    European carbon cover image Published 15 May 2017 by

    On Friday, the European Commission (EC) officially estimated the number of ‘surplus’ allowances in circulation in the EU ETS at the end of the 2016 compliance cycle is 1.69 Gt. The number is a preliminary estimate of the base numbers on which the Market Stability Reserve (MSR) will operate. The M..

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  • European carbon

    European carbon cover image Published 8 May 2017 by

    Last week saw the EU ETS market hit a number of 2017 lows, closing as low as 4.4 €/t at one point, but then recover somewhat to end the week largely unchanged at 4.58 €/t. This behaviour has been a persistent market trend of the last few months, with prices registering sharp drops, a slight bounc..

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  • European carbon

    European carbon cover image Published 2 May 2017 by

    The EU ETS market ended April on the soft side, with EUAs unchanged w/w at 4.57 €/t but 30 cents lower (6%) than at the start of the month. This softness underlines the big impact that auctions are having this year, particularly since April often sees some last-minute compliance buying that helps..

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  • Calmer waters

    Calmer waters cover image Published 28 Apr 2017 by

    In April, EUA prices traded with reduced volatility but tended to slide, averaging 4.8 €/t and closing at around 4.6 €/t. Average prices over the month fell by around 6% m/m. As with the price declines in March, the story was the downward pressure coming from the higher volumes of EUA sales y/y..

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  • European carbon

    European carbon cover image Published 24 Apr 2017 by

    Next week's edition of Carbon weekly will be published on Tuesday 2nd May, owing to the UK bank holiday. The ETS market finally turned lower last week, heading towards 4.5 €/t in a bearish Friday session that closed at 4.57 €/t, down by some 6% w/w. As with many of the price moves seen in recent..

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  • European carbon

    European carbon cover image Published 18 Apr 2017 by

    The ETS market stayed reasonably well supported last week, although the long Easter weekend left auction volumes truncated at 17.6 Mt. The current week faces a similar number of EUAs being offered, with another four-day week shortening the auction calendar. There were few other big changes last w..

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  • European carbon

    European carbon cover image Published 10 Apr 2017 by

    Next week's edition of Carbon weekly will be published on Tuesday 18th April, owing to the UK bank holiday. Last Monday’s verified emissions data release by the EC turned into something of a farce as incorrect data entered for one French installation massively skewed the initial analysis of the..

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  • European carbon

    European carbon cover image Published 3 Apr 2017 by

    The EC today released 2016 verified emissions data as submitted by installations covered by the EU ETS. The indicative data (around 80% of open installations have so far reported), suggest that EU emissions in the non-aviation trading sectors increased by 0.8% y/y on a like-for-like basis, which..

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  • Competing forces

    Competing forces cover image Published 31 Mar 2017 by

    In March, EUA prices traded with increased volatility. EUA’s closed all the way up at 5.91 €/t on 1 March in response to the surprisingly early Council agreement on its ETS Phase 4 position, itself more bullish than had been expected. The result was that the market now has negotiating texts from..

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  • European carbon

    European carbon cover image Published 27 Mar 2017 by

    As we had been expecting, EUA prices dropped below 5 €/t last week (down by 7.2% w/w to 4.77 €/t), and it seems that there is still more downside to come. The combination of the end of the heating season and the start of a sustained period of heavier auction volumes, helped by the restart of Poli..

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  • European carbon

    European carbon cover image Published 20 Mar 2017 by

    After the volatility of the last few weeks, the EUA market consolidated in a very tight range between 5.11 €/t and 5.20 €/t last week, closing slightly lower at 5.14 €/t. The biggest news last week was fundamentally bearish, with the EEX announcing that it has reached an agreement with Poland to..

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  • European carbon

    European carbon cover image Published 13 Mar 2017 by

    After the big increase in EUA prices to 5.91 €/t following the Council’s surprisingly fast agreement of its ETS Phase 4 negotiating position, itself unexpectedly bullish, the contract has consistently retreated. By Friday’s close it was down by 7.7% w/w to 5.17 €/t—right in the middle of the rang..

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  • European carbon

    European carbon cover image Published 6 Mar 2017 by

    Last week, the EU carbon market saw high volatility, with prices rising strongly on the surprise European Council agreement of its negotiating position for the EU ETS Phase 4 legislative package, before dropping back due to still-weak 2017 fundamentals. The Council’s agreement was a surprise both..

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  • Power play

    Power play cover image Published 28 Feb 2017 by

     Over February, EUA prices traded in an increasingly tight range between 4.90 €/t and 5.41 €/t and averaged 5.14 €/t, which was lower than seen in either December 2016 or January. The month still had some supportive features for prices, but these were less pronounced than in January. The very..

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