Dear Madam or Sir,
The submission deadline for the compliance year 2021 in the mandatory European emissions trading system EU ETS ends at the end of this week.
As was often the case in previous years, there was a small rally, which was triggered last Wednesday by the news that the Energy Committee of the European Parliament largely supports the EU Commission’s proposal for a reform of EU emissions trading in order to achieve the agreed reduction in greenhouse gases 55% to implement 2030. The main negotiations on the reform should begin in June at the latest.
Added to this were last-minute buyers who had probably been waiting for even cheaper prices and the breakthrough of the 80-euro mark, which then resulted in a price increase of more than 9%.
On a weekly closing basis, the spot market closed even higher than the December-22-Future due to the deadline, posting a weekly gain of more than 12%.
After only 6,957,000 EUA were auctioned last week, there are almost twice as many emission certificates in the new trading week with 12,786,000 on all five trading days.
Due to the pending end of the submission period this Friday and the closing price of just under the 90-euro-mark, the price should not offer any particularly favourable buying opportunities, at least in the coming days, despite the higher auction volume.
In the next week, developments in the war in Ukraine should again be one of the dominant topics on the market.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 15/04/22 | 22/04/22 | Change |
| EUA (Spot-Market) | 79.88 EUR | 89.59 EUR | +9.71 EUR |
| EUA (December-2022-Future) | 79.97 EUR | 88.99 EUR | +9.02 EUR |
| VCU (Voluntary Carbon Units ø) | 11.53 USD | 10.91 USD | -0.62 USD |
| VER (Gold Standard Spotmarkt ø) | 6.06 USD | 5.91 USD | -0.15 USD |
| nEZ (German National Carbon Units) | 30.00 EUR | 30.00 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 111.41 USD | 105.91 USD | -5.50 USD |
| EURO (Currency, Forex) | 1.0810 USD | 1.0799 USD | -0.0011 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. The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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.
With kind regards,
Advantag Services GmbH