Dear Sir or Madam,
Notwithstanding the fact that the European Parliament is meeting today in Strasbourg to vote on whether to extend the list of goods covered by the Carbon Border Adjustment Mechanism (CBAM) (Carbon Border Adjustment Mechanism) and that, furthermore, no further cancellation of allowances exceeding the previous limit of 400 million is to take place within the EU ETS¹, EU Emissions Allowances (EUAs) are trending upwards in the run-up to the end of the submission period.
Last week, EUAs traded within a range of 83.91 to 86.66 euros; the closing price of 85.52 was consequently 1.6 per cent higher than the previous week.
The renewed escalation in the Iran conflict has once again driven up prices for fossil fuels sharply over the past week, with Brent crude oil breaking through the US$100 mark once more.
This is immediately evident at petrol stations, which is why many people in Germany, too, are now considering buying an electric car. There are now 30,000 pre-orders for the new VW ID. Polo, and prices for second-hand electric vehicles are also continuing to rise, as very few people now believe the Middle East conflict will end any time soon.
Last week, the final auction for German national emission allowances with the year code 2026 took place on the Leipzig Energy Exchange (EEX) within a price range of 55 and 65 euros. The winning bid of 65 euros was to be expected, and the 110 bidders in total received an allocation of 2.2 per cent. The remaining quantity auctioned amounted to 10,682,308 nEZ26.
From 3 November 2026, nEZ26 can once again be ordered on the EEX at a fixed price of 68 euros for a month; in the meantime, we are endeavouring to procure allowances for our clients on the market at a price below this level.
On Thursday, the final auction for 2025 national emission allowances will take place; these can be purchased under the 10 per cent top-up scheme. Due to the regulations of the EEX Clearing House (ECC), we require your trading order by 12:00 at the latest if you wish to participate, and your payment must be received by 16:00 at the latest. Otherwise, participation will no longer be possible.
Due to the transfer deadlines in the registry, no purchases should be commissioned later than next Monday, so as not to miss the submission deadline and avoid incurring penalties for unsubmitted allowances.
| Instrument | 04/09/26 | 11/09/26 | Change |
| EUA (December-2026-Future) | 84.18 EUR | 85.52 EUR | +1.34 EUR |
| EUA2 (December-2027-Future) | 66.55 EUR | 66.55 EUR | +0.00 EUR |
| nEZ26 (national German Emission Certificates) | 65.00 EUR | 65.00 EUR | +0.00 EUR |
| UKA (December-2026-Future (UK)) | 59.73 GBP | 62.45 GBP | +2.72 GBP |
| UK Natural Gas (December-2026-Future) | 183.05 GBP | 203.19 GBP | +20.14 GBP |
| ICE Brent Crude Oil (December-2026-Future) | 92.32 USD | 99.78 USD | +7.46 USD |
| EURO (Forex) | 1.1614 USD | 1.1599 USD | -0.0015 USD |
(EUA, EUA2, UKA, Natural Gas, Crude Oil and Euro Currency shows day-end-exchange quotes of the benchmark contract. This market information has just an informational character and are no advice or offer to trade emission allowances 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 book here a call with one of our specialists.
With kind regards,
Your Advantag – Team