Euro Markets: EUAs fall as much as €2 amid continued selling before afternoon stabilisation
EU carbon allowances fell by as much as €2 by early on Thursday afternoon as traders continued to liquidate long positions that were initiated last week, before prices then stabilised over the balance of the session, while news reports concerning 400 million permits set to be allocated to fund a new Industrial Decarbonisation Bank also appeared to add to the bearish mood.
Read MoreBrussels takes Spain and Poland to court over failure to implement ETS rules
The European Commission has referred Spain and Poland to the EU Court of Justice for failing to transpose revised emissions trading rules into national law, more than two years after the deadline passed.
Read MoreEU carbon sales to fund ‘Investment Booster’ will come from free permits buffer, reserve for new entrants -Bloomberg
The EU is preparing to finance a new €30 billion clean energy investment programme by selling carbon permits from a reserve for new entrants in the bloc’s Emissions Trading System (ETS) and from an existing buffer of free allowances, while spreading out any auctioning to ensure the additional supply does not disrupt the bloc’s carbon market, Bloomberg reported Thursday.
Read MoreBrussels appoints EEX to auction EU ETS1 and ETS2 allowances until 2030
The European Commission has selected the EEX exchange to auction EU carbon allowances for the EU Emissions Trading System (ETS) and for the upcoming new scheme for heating and transport (ETS2) for the next five years.
Read MoreEuro Markets: EUAs swing from psychological upside target back down to technical support as funds build length
EU carbon prices briefly topped a key psychological level after the weekly Commitment of Traders data showed a strong build in bullish bets by speculative participants, before renewed selling took the market back down to familiar territory near an important technical mark, leaving the price finely balanced as another supply adjustment approaches.
Read MoreEU capitals push to keep free carbon allowances during CBAM suspension
EU member states want installations covered by the EU’s Emissions Trading System (ETS) to keep receiving free carbon allowances even if they are temporarily removed from the scope of the Carbon Border Adjustment Mechanism (CBAM), according to a leaked draft compromise on extending the scheme.
Read MoreEU, UK urged to spell out ETS linkage roadmap to unlock CCS investments
European carbon capture stakeholders are urging Brussels and London to set out a clear timetable with key milestones for linking the EU and UK carbon markets, warning that continued uncertainty risks delaying billions of euros in planned CO2 transport and storage projects and undermining Europe’s industrial competitiveness.
Read MoreEuro Markets: EUAs reverse early decline as market focuses on technical level ahead of auction pause
European carbon allowances reversed an early decline on Tuesday as the market focused on a key technical level ahead of the fortnightly pause in the auction programme, with sources expressing some consensus that prices just below the €80.00 level are appropriate for the moment.
Read MoreEU industrial leaders call for ETS and CBAM ‘recalibration’ to preserve competitiveness
EU industrial leaders have called for a comprehensive rethink of the EU’s Emissions Trading System (ETS) and Carbon Border Adjustment Mechanism (CBAM) to keep CO2 costs under control, and keep industrial production in Europe as large emitters are weaned off free allowances.
Read MoreSenior EU Commission official urges Parliament to swiftly adopt ETS market stability changes
A high-level European Commission official is calling on the European Parliament to make a swift decision on tweaks to the EU ETS’s Market Stability Reserve (MSR), in order to prevent the permanent cancellation of the allowances held in the reserve.
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