Euro Markets: EUAs recover to end day flat after initial fall with Commission ETS reforms largely “priced in” to benchmark

Published 17:50 on July 17, 2026 / Last updated at 18:53 on July 17, 2026 / / EMEA (Compliance Markets & Taxes, Europe)

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European carbon saw heavy early selling after long-awaited EU ETS reforms were presented by the European Commission on Friday morning, before a short-lived rally pushed the benchmark recover back towards €80, as prices ended the day largely flat after traders said any bearish changes had largely been priced into the market prior to the announcement.
European carbon saw heavy early selling after long-awaited EU ETS reforms were presented by the European Commission on Friday morning, before a short-lived rally pushed the benchmark recover back towards €80, as prices ended the day largely flat after traders said any bearish changes had largely been priced into the market prior to the announcement.


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