Month: May 2018

Dear Sir or Madam,

After the Peruvian peasant Saúl Luciano Lliuya took legal action against RWE for possible consequences of the operation of coal-fired power plants last year, now the EU is facing a similar lawsuit.

Nine families from four EU states, the Fiji Islands and Kenya, are suing the EU, as their climate protection goals are insufficient in the view of the plaintiffs to avert the dangerous consequences of climate change. The plaintiffs are supported by the environmental organization Germanwatch. Among them is the family Recktenwald of the small German North Sea island Langeoog, which would be affected by an increasing sea level rise on the front line.

To what extent the action will be successful, of course, from today’s perspective, is not foreseeable. However, one thing has already reached them – media attention and perhaps even more awareness of the problem.

The prices of one tonne of CO2 have risen further in Europe last week and have already exceeded the € 16 mark on Monday of last week to mark a new seven-year high on Wednesday at € 16.40, In a weak market environment, which was dominated by rumours of a loosening of the oil production limit by the OPEC, the permit rights at the end of the trading week fell again slightly and closed in the area around 16 euros per EUA.

 

(Average Quotes Exchange / OTC)
Instrument	2018-05-18	2018-05-25	Change
EUA (Spotmarket)	15.22 EUR	15.98 EUR	+0.76 EUR
EUA (December-2018-Future)	15.25 EUR	16.00 EUR	+0.75 EUR
CER (Spotmarket)	0.22 EUR	0.22 EUR	+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)	78.60 USD	76.05 USD	-2.55 USD
EURO (Currency, Forex)	1.1769 USD	1.1649 USD	-0.0120 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 European Commission is suing Germany and five other countries for their poor urban air quality. Since Germany has also decided on these values, nobody can now claim that the EU takes far too ambitious values ​​as a basis. The EU is now doing what they need to do to ensure that the values ​​agreed upon are respected. Of course, the political specter of a driving ban of diesel cars moves closer again, if Germany wants to avoid imminent penalty payments.

If one buys a Porsche SUV, he or she is usually less likely to think about emitting CO2, NOx or particulate matter. The idea that such a large and heavy vehicle can have a low environmental impact is simply absurd. Now 60,000 Porsche Cayenne and Macan are called back because of five illegal shutdown devices, bringing the VW Group once more in the focus of the investigative authorities.

But there is also positive news. The CO2 emissions of the German power mix have fallen significantly since 1990. According to information from the Federal Environmental Agency, last year only 366 million tons were emitted, compared to just 285 million tons last year, which represents a significant drop of 81 million tons or 22%.

In the last week, the bull market continued with the emission certificates. After an unsuccessful auction on Wednesday at the ICE in London for 4,593,500 EUA, the market increased significantly and jumped over the mark of 15 euros, which he was able to hold until the end of last trading week. Also today’s Tuesday continued this trend and the market seems to target the mark of 16 euros.

 

(Average Quotes Exchange / OTC)
Instrument	2018-05-11	2018-04-11	Change
EUA (Spotmarket)	14.57 EUR	15.22 EUR	+0.65 EUR
EUA (December-2018-Future)	14.63 EUR	15.25 EUR	+0.62 EUR
CER (Spotmarket)	0.20 EUR	0.22 EUR	+0.02 EUR
ICE Brent Crude Oil (Benchmark Future)	76.99 USD	78.60 USD	+1.61 USD
EURO (Currency, Forex)	1.1942 USD	1.1769 USD	-0.0173 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,

US President Donald Trump has started to shut down the climate protection program of the US space agency NASA, according to several unanimous media reports. Whether it is completely finished, is in the stars. NASA satellites have so far measured the concentration of greenhouse gases, especially carbon dioxide and methane, demonstrating the correlation between greenhouse gas rise and global warming. Ending these measurements will ultimately affect the monitoring of the global climate goals of the Paris Agreement on Climate Change. Here, perhaps, the European or Russian space travel is required to ensure more data.

There will probably be few who should have surprised this decision. But those who negate climate change either because of lack of cognitive ability, lack of education or out of pure purpose, for obvious reasons have no interest in irrefutable facts, such as NASA’s clear measurement results.

Unfortunately, we must once again mention Donald Trump, as the termination of the nuclear deal with Iran last week has led to another visible increase in oil prices. Again, Europe, Russia and also China are in demand to prevent worse.

Among other things, this increase in oil prices last week saw prices for European emission allowances reach a renewed seven-year high at € 14.79 per ton, despite ending the deadline two weeks ago. The weekly closing price was also 12.4% higher than in the previous week.

 

(Average Quotes Exchange / OTC)
Instrument	2018-05-04	2018-04-11	Change
EUA (Spotmarket)	13.00 EUR	14.57 EUR	+1.57 EUR
EUA (December-2018-Future)	13.02 EUR	14.63 EUR	+1.63 EUR
CER (Spotmarket)	0.21 EUR	0.20 EUR	-0.01 EUR
ICE Brent Crude Oil (Benchmark Future)	76.92 USD	76.99 USD	+2.07 USD
EURO (Currency, Forex)	1.1958 USD	1.1942 USD	-0.0016 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,

Whether the big German Allianz Insurance has played a role in its decision not to insure neither the construction nor the operation of coal-fired power plants in the future, the suit of the Peruvian peasant Saúl Luciano Lliuya against RWE in terms of the personal consequences of climate change, we do not know. However, the economic risks in connection with the burning of fossil fuels, which can hardly be calculated in the future, should be taken into account by all actors at the latest since the diesel scandal and the first partial success of the complaint of the Peruvian farmer against RWE. The German Allianz insurance is not the first well – known and globally operating company, which withdraws from the financing of climate – damaging technologies and certainly is not one of the last.

In the past week, the deadline for submitting certificates ended in the compliance market of the European Emissions Trading System (EU ETS). Trading companies must be submit until 30.04. one year of emission and depreciation of the emitted amount of CO2 or its equivalent of other greenhouse gases. This should have succeeded in all companies, because otherwise threatens next to the price for the purchase of the certificates a fine of 100 € per not punctually issued certificate, which can be life-threatening for one or the other companies.

Thus, the European emission allowances also took the end of the deadline for a brief breather. After prices rose to € 13.79 per EEA on Tuesday, prices fell to € 12.75 in a weaker energy market environment on Thursday to close at € 13.00 at the close of the trading week, at a closing price of € 13.00 conclude.

The fact that market participants have seen no reason for a correction of the EUA prices in the past week, even after the end of the submission deadline, currently speaks against an end to the bull market. On the other hand, a weak auction demand or a negative market environment may be the trigger for price declines. It is therefore important to keep an eye on these two indicators next week.

 

(Average Quotes Exchange / OTC)
Instrument	2018-05-04	2018-04-27	Change
EUA (Spotmarket)	13.00 EUR	13.51 EUR	-0.51 EUR
EUA (December-2018-Future)	13.02 EUR	13.56 EUR	-0.54 EUR
CER (Spotmarket)	0.21 EUR	0.20 EUR	+0.01 EUR
ICE Brent Crude Oil (Benchmark Future)	74.92 USD	73.65 USD	+1.27 USD
EURO (Currency, Forex)	1.1958 USD	1.2128 USD	-0.0170 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