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EU Market: EUAs make late surge to end week 4% higher

Published 23:05 on July 10, 2020  /  Last updated at 23:26 on July 10, 2020  /  EMEA, EU ETS  /  No Comments

EUAs mounted a late scramble from week-low levels to climb back above €29 on Friday, ensuring a 4% weekly gain and keeping carbon near its year-high in continued jumpy trade.

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EU nations to cover less than a fifth of coal phaseout impact with EUA cancellations -analysts

Published 20:16 on July 10, 2020  /  Last updated at 20:16 on July 10, 2020  /  EMEA, EU ETS  /  No Comments

EU nations are only likely to cancel enough EUAs to account for around 15% of emissions reduced due to coal power phaseouts through 2030, with the vast majority of the lost generation being replaced by renewables rather than gas, analysts said in a report this week.

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POLL: Analysts raise short-term EUA price views following huge rally, but warn of pullback

Published 16:16 on July 10, 2020  /  Last updated at 16:16 on July 10, 2020  /  EMEA, EU ETS  /  No Comments

Analysts have raised their short-term EU carbon price forecasts following the huge rally staged in Q2, though most are warning of a pullback from current levels, especially should Europe be gripped by a second wave of COVID-19.

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Norway pays Indonesia for cutting 11.2 MtCO2e under forestry deal

Published 12:59 on July 10, 2020  /  Last updated at 12:59 on July 10, 2020  /  Asia Pacific, EMEA, International, Other APAC, REDD  /  No Comments

Norway has paid Indonesia for reducing greenhouse gas emissions by 11.2 MtCO2e, the first payment under a 10-year-old bilateral forestry deal after a smaller transfer flagged last year never materialised.

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Latest EU budget proposal leaves question mark over use of ETS revenues

Published 12:17 on July 10, 2020  /  Last updated at 23:56 on July 10, 2020  /  EMEA, EU ETS  /  No Comments

The European Council’s latest proposal for a 2021-27 Multiannual Financial Framework (MFF) retains the idea of earmarking some revenues from auctioned EUAs for the bloc’s general budget, but wants to leave it to officials to outline the details only after 2021.

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Traders find humour, unease in fake tweets targetting EU carbon prices

Published 20:28 on July 9, 2020  /  Last updated at 23:15 on July 9, 2020  /  Bavardage, EMEA, EU ETS  /  No Comments

EU carbon traders have found humour in a pair of fake tweets that have been circulating in the market over the past week or so, though some voiced unease at the possibility that they were genuine attempts to influence EUA prices.

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EU adopts rules for €14 bln Modernisation Fund to deliver energy upgrades

Published 18:03 on July 9, 2020  /  Last updated at 22:01 on July 9, 2020  /  EMEA, EU ETS  /  No Comments

The European Commission on Thursday adopted rules for the operation of the bloc’s Modernisation Fund, an ETS-funded financing instrument supporting mainly Eastern EU nations to upgrade their energy systems.

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Free allocation of EUAs for industries needs rethink, says trade union policy advisor

Published 17:51 on July 9, 2020  /  Last updated at 21:58 on July 9, 2020  /  EMEA, EU ETS  /  No Comments

Free allocation of EUAs for energy-intensive industries has prevented these sectors from enabling the technological innovations needed for their decarbonisation and therefore should be reconsidered, an advisor to a Europe-wide industry trade union said on Thursday.

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EU Market: EUAs sink below €29 on lawmaker talk of trading limits

Published 14:29 on July 9, 2020  /  Last updated at 22:06 on July 9, 2020  /  EMEA, EU ETS  /  No Comments

EUAs fell back below €29 on Thursday, maintaining distance from this week’s year-high as news that lawmakers were considering measures to curb the market’s volatility or limit speculative activity spooked some traders.

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EXCLUSIVE – EU lawmakers eye price ceiling, speculation curbs to prevent “cornering” of ETS

Published 00:37 on July 9, 2020  /  Last updated at 09:26 on July 9, 2020  /  EMEA, EU ETS  /  No Comments

A growing number of European lawmakers are considering measures to curb speculation or cap prices in the EU ETS, Carbon Pulse has learned, as allowances skyrocket towards all-time highs on what some participants say are attempts by hedge funds and other algo-wielding investors to “corner” the market.

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