Month: April 2018

Dear Sir or Madam,

Those who had hoped to cover themselves with cheaper emission allowances shortly before the end of the deadline were deceived in the past week. Last week’s trading range continued to increase, ranging from € 12.72 to € 13.66 per EUA, or tonne of CO2 or its equivalent in other greenhouse gases. At the end of the trading week, the certificates were again visibly firmer compared to the previous week thanks to stronger auction results, closing at just over four per cent, at just over 13.50 euros.

In the past week, the newspapers said that the debate over possible driving bans on diesel-engined vehicles would increase CO2 emissions. This statement we have followed up once and have compared the official values ​​of the most famous German compact car VW Golf as petrol or diesel and found that this statement can not stand so. For this we have selected two engines with the same power (150 hp each) in order to obtain a fair basis for comparison. According to the manufacturer, the diesel engine (TDI) consumes 4.3 liters per 100 km. The gasoline engine (TSI) has a slightly higher fuel consumption and requires 4.9 liters at the same distance.

The burning of a liter of diesel, however, releases 2.64 kilograms of CO2, with the combustion of one liter of gasoline being calculated at 2.33 kilograms of CO2. Ultimately, therefore, the petrol engine emits 11.417 kilograms of CO2 per 100 kilometers of standard fuel consumption, whereas the diesel engine emits almost identical values ​​and emits 11.352 kilograms of CO2, which corresponds to a nearly homeopathic difference of 0.57%.

The blanket claim that diesel engines are being produced to fight climate change is clearly misleading, in order not to use the words “fake news”.

 

(Average Quotes Exchange / OTC)
Instrument	2018-04-27	2018-04-20	Change
EUA (Spotmarket)	13.51 EUR	13.03 EUR	+0.48 EUR
EUA (December-2018-Future)	13.56 EUR	13.05 EUR	+0.51 EUR
CER (Spotmarket)	0.20 EUR	0.20 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	73.65 USD	73.80 USD	-0.15 USD
EURO (Currency, Forex)	1.2128 USD	1.2286 USD	-0.0158 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

 

Dear Sir or Madam,

The past trading week was quite turbulent. European pollution rights prices ranged between € 12.67 and € 14.22 per ton of CO2, with the latter marking a new seven-year high last Monday. Towards the end of the trading week, after a weak auction demand, the price nearly lost the previous week’s plus, but closed above an important support line just above EUR 13 per EUA.

In the past year, global CO2 emissions trading revenues increased by 45% to $ 32 billion. This includes, among other things, income from CO2 taxes as well as proceeds from the auctioning of emission allowances in global CO2 trading.

On Monday of next week, the deadline for the previous year ends in mandatory European emissions trading. Thus, companies subject to commercial duty still have a few days left to cover themselves with certificates, but in some circumstances they should consider a possible transfer time frame when making their purchase decisions, insofar as the certificates do not come from a trading account. Even if the certificates are transferred from a trading account, the transfer time may be 26 hours, as long as the recipient account is not included in the sender’s trust account list.

 

(Average Quotes Exchange / OTC)
Instrument	2018-04-20	2018-04-13	Change
EUA (Spotmarket)	13.03 EUR	13.90 EUR	+0.94 EUR
EUA (December-2018-Future)	13.05 EUR	13.94 EUR	+0.95 EUR
CER (Spotmarket)	0.20 EUR	0.20 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	73.80 USD	72.44 USD	+5.45 USD
EURO (Currency, Forex)	1.2286 USD	1.2328 USD	+0.0049 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

 

 

 

Dear Sir or Madam,

The fundamental risks in the Middle East have been exacerbated by the attacks of the Americans, the French and the British Forces, while oil stocks in the OECD have continued to fall. This led to a significant increase in crude oil, which boosted not least the price of European emission allowances. On Friday, the price of the EUAs rose to 14.08 euros, before it ended the trading week with a visible increase of just under one euro at 13.90.

Last week, the Potsdam Institute for Climate Impact Research (PIK) published a study that provided scientific evidence that the Gulf Stream is weakening. The Gulf Stream is an important source of heat for the European continent, bringing the warm waters of the West African region across the coasts of Florida to Europe and then to the South of Greenland. This important stream has now slowed by 15% in the past 70 years, due to climate change. The lower the temperature difference between the North Atlantic and the tropical waters, the slower the Gulf Stream. Ultimately this means that only a cold North Atlantic is a guarantee for a strong Gulf Stream, which brings warm air masses from the South to Europe.

In recent years, there have been several scientists who have linked a further weakening of the Gulf Stream with the possibility of the appearance of a small ice age in Europe.

 

(Average Quotes Exchange / OTC)
Instrument	2018-04-13	2018-04-06	Change
EUA (Spotmarket)	13.90 EUR	12.96 EUR	+0.94 EUR
EUA (December-2018-Future)	13.94 EUR	12.99 EUR	+0.95 EUR
CER (Spotmarket)	0.20 EUR	0.20 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	72.44 USD	66.99 USD	+5.45 USD
EURO (Currency, Forex)	1.2328 USD	1.2279 USD	+0.0049 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

 

Advantag Services GmbH

Dear Sir or Madam,

According to the German government, the EU should in future invest at least one fifth of its budget in projects that promote climate protection. It thus supports the Green Growth Group’s demand to invest a minimum of 20% of the EU budget from 2021 on appropriate programs and climate-friendly projects. Currently, the German government spends about 3.7 billion annually on climate protection projects, which is just over one percent of the federal budget.

A weaker market environment in the energy sector, especially for oil and electricity, also increased the market for CO2 emission rights last week. For example, prices moved sideways-downwards after lower demand at the auctions, and the EUA lost around 30 cents on a weekly basis against the particularly bullish last week. Only the CER were able to gain slightly in view of the approaching end of the compliance submission deadline for 2017.

Even the start of the new week starts a bit cautiously with a minus of about one percent.

 

(Average Quotes Exchange / OTC)
Instrument	2018-04-06	2018-03-29	Change
EUA (Spotmarket)	12.96 EUR	13.26 EUR	-0.30 EUR
EUA (December-2018-Future)	12.99 EUR	13.28 EUR	-0.29 EUR
CER (Spotmarket)	0.20 EUR	0.19 EUR	+0.01 EUR
ICE Brent Crude Oil (Benchmark Future)	66.99 USD	70.26 USD	-3.29 USD
EURO (Currency, Forex)	1.2279 USD	1.2302 USD	-0.0023 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

Advantag Services GmbH

 

Dear Sir or Madam,

The impending escalation of the trade conflict between the USA and China has the potential to place a lasting burden on the world economy. Now that the US government has imposed punitive tariffs on steel imports from China, Beijing has now imposed punitive tariffs of up to 25% on imports of 128 US products. The Chinese government has selected the selection because it will specifically target typical Trump rural voters, especially as it relates to agricultural products.

Nonetheless, during the Holy Week, prices for European CO2 emission allowances continued to rise sharply, even breaking through the € 14 level last Wednesday to close on Thursday with a further 5.3% weekly gain of € 13.26 per EUA,

It remains to be seen whether the nervous macroeconomic environment will be able to force a correction of the bullish price before the end of the compliance submission deadline on 30.04.2018.

 

(Average Quotes Exchange / OTC)
Instrument	2018-03-23	2018-03-16	Change
EUA (Spotmarket)	12.58 EUR	11.15 EUR	+1.43 EUR
EUA (December-2018-Future)	11.61 EUR	11.17 EUR	+1.44 EUR
CER (Spotmarket)	0.20 EUR	0.19 EUR	+0.01 EUR
ICE Brent Crude Oil (Benchmark Future)	69.71 USD	66.13 USD	+3.58 USD
EURO (Currency, Forex)	1.2357 USD	1.2289 USD	+0.0068 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask has usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. This market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

 

With kind regards,

 

Advantag Services GmbH