Euro Markets: EUAs erase Monday losses amid options hedging volatility, stronger prompt power
European carbon prices erased their losses from Monday, tracking movements in front-month natural gas, a strengthening power market, and fluctuating between two key options strike prices, as the market positioned itself ahead of Wednesday’s options expiry.
Read MoreEuro Markets: EUAs drop by most in six months as options hedging amplifies gas-driven weakness
European carbon prices dropped by their biggest margin in six months as traders positioned themselves ahead of the upcoming expiry of the December options contract, amplifying the effect of weaker gas prices, while UK carbon allowances fell to their lowest in seven months amid low gas-fired generation and continued regulatory uncertainty.
Read MoreEurope risks missing 2030 climate goals without urgent policy action, analysts warn
Europe may have made significant progress in decarbonising its energy sector, but investment efforts must more than double to an average of $1 trillion annually by 2030.
Read MoreEuro Markets: EUAs rebound in late rally as market awaits options expiry
European carbon prices struggled for direction for much of Friday, with participants said to be anticipating options expiry next week, before a late rally saw the benchmark reclaim nearly all of the value it had lost this week during a string of gas-driven bearish sessions.
Read MoreEuro Markets: EUAs drift along with TTF gas as traders trim length ahead of weekend
European carbon prices ended slightly lower on Thursday, following the evolution in front-month natural gas as both markets saw length being trimmed amid what has been a weak few days.
Read MoreUK waters down pledge to decarbonise power grid by 2030
The UK government has watered down plans to decarbonise the electricity grid by 2030, setting a new target of achieving at least 95% of clean power by 2030.
Read MoreBRIEFING: AI-powered global data centre buildout at fork in the road, with energy choices crucial to emissions trajectory
A rise in emissions resulting from the boom in data centre energy demand over the coming years will depend on whether countries can overcome power grid issues, obstacles to renewable expansion, and how much of the added electricity consumption is met with fossil-based generation, industry leaders told a summit in Paris this week.
Read MoreEnergy professionals sceptical UK will hit climate targets
Most energy professionals in the UK believe the country will fail to hit its climate targets, casting doubt over the government’s flagship policy to decarbonise the electricity grid by 2030, a survey has found.
Read MoreMajor carbon ETF adds Washington state allowances to holdings after market survives vote
A major US-listed carbon ETF has added Washington state’s cap-and-trade allowances to its holdings in its latest reweighting.
Read MoreEurope-wide CO2 market, including UK, may reduce storage costs by 20% -report
A Europe-wide market for CO2 with access to the UK could reduce carbon storage costs by 20%, equal to €11 per tonne, according to a report released on Wednesday.
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