Emissions

  • European carbon

    European carbon cover image Published 23 Apr 2018 by
    Last week finally saw something of a downward price move after three straight weeks of w/w gains. The market closed at 14 €/t last Monday (16 April) but softened to 13.05 €/t by Friday’s close, posting a 6.4% loss on the Dec-18 contract. Last week the market displayed, as it often..

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  • Double Dutch

    Double Dutch cover image Published 19 Apr 2018 by
    Another month into 2018 and the bull run that EUAs have been on appears as rampant as ever, with another 2.8 €/t or so added to the EUA price since mid-March and the Dec-18 contract flirting with 14 €/t by mid-April. We are not calling an end to the upward price movements, but a potenti..

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  • European carbon

    European carbon cover image Published 16 Apr 2018 by
    Last week saw the International Maritime Organization (IMO) announce an agreement to cut the global shipping sector's overall CO2 emissions by 50% on 2008 levels by 2050―below the 70% reduction sought by some members, including the EU. The main implication for the ETS is whether EU policymakers f..

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  • European carbon

    European carbon cover image Published 9 Apr 2018 by
    Carbon prices took a break from their long bull run last week, but recent price rises have been drastic enough for us to consider the ETS Directive’s never-used Article 29 ‘safety valve’. The Article requires the European Commission (EC) to hold a committee meeting if —ove..

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  • European carbon

    European carbon cover image Published 3 Apr 2018 by
    The week has opened with the annual release by the European Commission (EC) of initial verified emissions from covered installations in 2017. The initial numbers, from 90% of those installations that are classified as open, suggest that emissions from stationary installations were moderately up b..

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  • Blowing bubbles

    Blowing bubbles cover image Published 26 Mar 2018 by
    The 2018 rampant bull-run that EUAs have been on did not abate at all this month, with another 2.0 €/t to the EUA price, leaving the Dec-18 contract trading at above 12 €/t as March comes to a close. The big future short positions in the market retain a pull on the market, with growing..

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  • European carbon

    European carbon cover image Published 26 Mar 2018 by
    Next week's edition of Carbon weekly will be published on Tuesday 3rd April, owing to the UK bank holiday. When will the rapid pace of EUA price increases stop? Last week saw another acceleration, with the market closing between 12.0 €/t and 13.0 €/t each day, and there was even one int..

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  • European carbon

    European carbon cover image Published 19 Mar 2018 by
    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..

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  • European carbon

    European carbon cover image Published 12 Mar 2018 by
    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..

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  • European carbon

    European carbon cover image Published 5 Mar 2018 by
    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..

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  • European carbon

    European carbon cover image Published 26 Feb 2018 by
    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..

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  • Optionality

    Optionality cover image Published 22 Feb 2018 by
    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..

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  • European carbon

    European carbon cover image Published 19 Feb 2018 by
    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..

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  • European carbon

    European carbon cover image Published 12 Feb 2018 by
    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..

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  • European carbon

    European carbon cover image Published 5 Feb 2018 by
    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..

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