POLL: Analysts maintain bearish near-term UKA forecasts as fundamentals remain weak
Analysts have kept their UKA price forecasts at well below £50 for the next two years, citing weak fundamentals and ongoing policy uncertainty that will keep the market trading at a substantial discount to the EU ETS for most of the decade.
Read MoreEuro Markets: EUAs trade in slim range after early gas-fuelled tumble as market fights for direction
European carbon prices slumped early on Monday morning in line with weakening energy markets, as warmer weather and a predicted rise in renewable power generation raised the prospect of reduced demand for thermal output, before the day developed into a battle for direction with aggressive sellers facing off against determined resistance.
Read MoreUK corporate decarbonisation slows by one-third in 2023, jeopardising net zero goals -report
The rate of decarbonisation across UK businesses decelerated significantly last year, posing a potential setback to achieving net zero goals, finds a new report.
Read MoreEuro Markets: EUAs retreat, post second weekly loss on profit taking in quiet trading
European carbon permit prices posted a second weekly loss in succession on Friday as prices retreated in concert with TTF natural gas, with sources also reporting profit-taking in light volume ahead of the weekend.
Read MoreEuro Markets: EUA prices jump in afternoon gas-driven surge on reports of European LNG transit ban
Trading in European carbon allowances sparked into life in the afternoon as EUA and gas prices spiked on reports that the EU may propose a ban on transshipment of Russian LNG, after the morning has seen prices move in a relatively narrow range on lower than normal volume.
Read MoreEuro Markets: EUAs claw back early losses in energy-fuelled rally as COT shows larger cut in fund shorts
European carbon prices fluctuated in a €2.70 range on Wednesday after relatively rangebound trading on Tuesday as prices moved in sync with swings in energy markets, while the publication of weekly Commitment of Traders data that showed the biggest reduction in investment funds’ bearish bets in a month failed to generate a significant response from the market.
Read MoreEuro Markets: EUAs post modest drop as selling activity grows ahead of weekly positions data
European carbon prices fell modestly on Tuesday after earlier rising by as much as 1.4% amid early strength in energy markets, before EUAs and energy prices unwound their gains in the afternoon as traders appeared to be taking a cautious approach ahead of Wednesday’s Commitment of Traders data.
Read MoreEuro Markets: EUAs slide under selling pressure along with energy, while UKAs edge higher on compliance demand
Carbon prices in Europe began the week on a sharply bearish note in line with wider energy markets, encouraging traders to build additional short positions but also highlighting the degree to which EUAs are being driven by fluctuations in natural gas, while UKAs shrugged off the bearish sentiment to rise amid increased compliance demand.
Read MoreUK’s ETS for waste risks raising costs for local govts and pushing rubbish to landfill, experts warn
The extension of the UK ETS to include emissions from waste risks imposing significant new costs on cash-strapped local council authorities and pushing more rubbish to landfills, unless the government passes supporting policies within the next two years, experts said on Monday.
Read MoreUK to begin consultation on including maritime emissions in ETS shortly, but no deadline for free allocation response
The UK government will soon begin a public consultation on how best to include maritime emissions in the scope of the UK ETS, a senior official said on Monday, without indicating when the government would respond to recently completed consultations on other potential changes to the country’s stand-alone carbon market.
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