Emissions

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • 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..

    Read more

  • European carbon

    European carbon cover image Published 29 Jan 2018 by
    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..

    Read more

  • European carbon

    European carbon cover image Published 22 Jan 2018 by
    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 cent..

    Read more

  • Driving into 18

    Driving into 18 cover image Published 18 Jan 2018 by
    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..

    Read more

  • European carbon

    European carbon cover image Published 15 Jan 2018 by
    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..

    Read more