Euro 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.
Read MoreBritish industries, manufacturers want UK-EU ETS link-up as soon as possible, say experts
British industries and manufacturers want the UK and EU to tie up their emissions trading schemes as soon as possible, in order to minimise the challenges of navigating two separate, and diverging, markets and border carbon fees, representatives told a House of Lords committee on Tuesday.
Read MoreINTERVIEW: Energy boss urges channelling EU ETS cash into electrification drive
E.On’s CEO Leonhard Birnbaum is urging EU policymakers to channel revenues from the Emissions Trading System (ETS) into electrification and industrial decarbonisation, warning that Europe’s weak investment climate risks derailing the bloc’s net zero plans.
Read MoreLNG fleet faces widening compliance divide as EU emissions costs bite -analysts
The type of engine installed on an LNG carrier is becoming the defining factor in its future competitiveness under tightening maritime emissions rules, with older vessel classes facing mounting carbon compliance costs that could accelerate their exit from the market, according to new analysis.
Read MoreEuro Markets: EUAs drop below major level amid profit taking as EU makes first hike to auction supply
European carbon allowance prices dropped back below an important psychological level on Monday amid a welter of profit taking after the market had risen to a nearly 16-week high on Friday, as daily auction volumes rose and are expected to increase further next month, while fading hopes for a quick ceasefire agreement in the Strait of Hormuz also added to bearish pressure.
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