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US Steel chops 2,500 jobs at Slovakia plant, blaming high EUA prices

Published 19:45 on July 20, 2019  /  Last updated at 20:30 on July 20, 2019  /  EMEA, EU ETS  /  No Comments

US Steel will lay off 2,500 workers at its large steel mill in Slovakia over the next two years, the company announced on Friday, blaming high EU carbon and power prices.

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Poland greenlights plan to compensate industry for indirect EU ETS costs

Published 20:41 on July 19, 2019  /  Last updated at 21:38 on July 19, 2019  /  EMEA, EU ETS  /  No Comments

Poland’s parliament passed a bill on Friday to compensate its EU ETS-covered industry for indirect carbon costs, making good on a government plan announced nine months earlier when carbon prices first surged towards €30.

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EU Market: EUAs rebound towards €29 as looming heatwave revives bulls

Published 18:37 on July 19, 2019  /  Last updated at 20:41 on July 19, 2019  /  EMEA, EU ETS  /  No Comments

European carbon prices emphatically rebounded from a six-day low on Friday’s bullish auction result and forecasts of an impending heatwave, with buyers also taking comfort from strong technical signals.

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Swiss energy-related CO2 emissions fall in 2018 despite stubborn transport output

Published 18:18 on July 19, 2019  /  Last updated at 20:23 on July 19, 2019  /  Carbon Taxes, EMEA, EU ETS, Switzerland  /  No Comments

Switzerland’s energy-related CO2 emissions continued falling in 2018, the government announced this week, though the decline was again mostly seen in the consumption of thermal fuels as transportation’s output was unchanged.

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Nordic utilities report jumps in ETS-covered output amid lower hydro

Published 13:12 on July 19, 2019  /  Last updated at 13:12 on July 19, 2019  /  EMEA, EU ETS  /  No Comments

Two Nordic utilities reported rises in EU ETS-covered output over the first half of 2019 as their thermal facilities ramped up to cover lower hydro generation, though they said fossil-based production may ease for the rest of the year as reservoirs have since filled.

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EU Market: EUAs fall 2.4% on another weak auction, softer energy

Published 21:24 on July 18, 2019  /  Last updated at 22:27 on July 18, 2019  /  EMEA, EU ETS  /  No Comments

European carbon allowances fell on Thursday on another weak auction and a softer energy complex, before crashing through technical supports to close under €28 and give back much of their recent gains.

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Mega-bullish or long-shot: Experts mixed over EU ETS impact of von der Leyen pledges

Published 05:00 on July 18, 2019  /  Last updated at 23:47 on July 17, 2019  /  EMEA, EU ETS  /  No Comments

Experts are mixed over the impact of new European Commission President Ursula von der Leyen’s climate pledges and EU ETS reform plan, with views of her strategy ranging from “mega-bullish” to “vague long-shot”.

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EU Market: EUAs recover to end steady after buyers protect €28 handle

Published 17:32 on July 17, 2019  /  Last updated at 21:49 on July 17, 2019  /  EMEA, EU ETS  /  No Comments

EUAs fell to a three-day low before climbing back into positive territory on Wednesday, halting their slide from an 11-year high earlier this week as buyers emerged following this morning’s bumper auction.

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EU Parliament approves ‘climate’ Commission chief without Greens backing

Published 20:31 on July 16, 2019  /  Last updated at 23:07 on July 17, 2019  /  EMEA, EU ETS  /  No Comments

The European Parliament narrowly endorsed Ursula von der Leyen as the new European Commission president late Tuesday, though her promise of a “green deal for Europe” failed to win over the assembly’s most dedicated environmentalists.

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EU Market: EUAs retreat below €28.50 as bullish drivers fade

Published 18:33 on July 16, 2019  /  Last updated at 10:37 on July 18, 2019  /  EMEA, EU ETS  /  No Comments

European carbon fell for the first time in five days on Tuesday, sinking below major technical resistance after some traders warned that the bullish drivers that had pushed prices to a new 11-year high this week were waning.

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