Dear Ladies and Gentlemen,
At the end of this year, we have to say thank you for the good collaboration.
We wish you reflective holidays and a successful start into the New Year!
Instead of post cards or gifts, we support with our voluntary offsetting of 50 Tons
Carbon emissions CDM project 6943 in India, which reduces every year 2.3 million
tons of carbon emissions.
With best regards,
Your ADVANTAG Team
Dear Ladies and Gentlemen,
The Certified Emission Reductions (CER) marked a new all-time-low at 16 Cent. It seems to be a bad time for project developers in Clean Development Mechanism (CDM) to look for earnings from CERs, which would be higher than the costs of generating these units. If this mechanism could be attractive in the future for investors is written in the stars. Maybe the upcoming climate change conference could set a new impulse.
Despite raising crude oil prices last week, the European Emission Allowances EUA lost 50 Cent against the week before. After the strong price increase of the last months, the time for consolidation was ready. The next days will show, if EUA will stay above the psychological important level of seven Euro per unit. The colder weather in Europe could support the energy complex in that matter.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2017-10-30 | 2017-10-20 | Change |
| EUA (Spotmarket) | 7.17 EUR | 7.57 EUR | -0.50 EUR |
| EUA (December-2017-Future) | 7.17 EUR | 7.57 EUR | -0.50 EUR |
| CER (Spotmarket) | 0.18 EUR | 0.19 EUR | -0.01 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 60.33 USD | 57.82 USD | +2.51 USD |
| EURO (Currency, Forex) | 1.1609 USD | 1.1785 USD | -0.0176 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 have 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. These 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 Ladies and Gentlemen,
The third quarter 2017 European Emission Allowances EUA closed with an increase of more than 40% against the previous quarter. Also from point of view of the first nine months, the pollution rights rose around 8%.
A important reason therefor could be the upcoming negotiations of the European Member states, which will review their position on the EU-ETS reform plans on Friday this week. Than they will discuss the proposal of cancellation of emission rights from the market stability reserve starting in 2023.
The previous proposal did not mention a cancellation, what could lead to the fact, that they could return into the market, if there was a surplus of less than 433 million units. The European Parliament also supports the cancellation of 800 million units after January 1st, 2021.
On October 12, the Trilogue negotiations with European Parliament and European Commission will be continued. The results might have – according to the tendency – influence of the short- and midterm price development.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2017-09-29 | 2017-09-22 | Change |
| EUA (Spotmarket) | 7.06 EUR | 6.64 EUR | +0.42 EUR |
| EUA (December-2017-Future) | 7.07 EUR | 6.65 EUR | +0.42 EUR |
| CER (Spotmarket) | 0.19 EUR | 0.20 EUR | -0.01 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 56.69 USD | 56.79 USD | -0.10 USD |
| EURO (Currency, Forex) | 1.1814 USD | 1.1947 USD | -0.0133 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 have 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. These 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 Ladies and Gentlemen,
In our market report of August 28, we had noticed that “we can wait in suspense for the price developments in September”. But what actually happened on the carbon market last week, can only be described as spectacular.
The trade started last Monday at 5.83 EUR and then began a rally that catapulted the price in today’s early trading to EUR 7.20, marking a new yearly high. The analyst Stefan Küster from “EnergyCharts” had on Thursday a long-term view on the chart since 2008 and came to the conclusion that the market “technically stands before an important, not to say, „a decisive setting the course”. In this context, he did not rule out that we might see again the ten-euro mark.
In addition to a very positive energy sector, signals from the politics also contributed to this bullish course fire. For example, during the week was announced, that France and Germany are advocating an agreement about the new regulations for the fourth trading period already before the coming world climate summit in November. On Wednesday of this week the trialogue talks will go to the next round and here were news that some progress has been made behind closed doors in the run-up.
It is also remarkable that last Thursday the auction was canceled on the EEX, because the bids were significantly below the market. The volume will now be distributed to the upcoming auctions.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2017-09-08 | 2017-09-01 | Change |
| EUA (Spotmarket) | 7.06 EUR | 5.82 EUR | +1.24 EUR |
| EUA (December-2017-Future) | 7.07 EUR | 5.83 EUR | +1.24 EUR |
| CER (Spotmarket) | 0.20 EUR | 0.20 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 53.71 USD | 52.73 USD | +0.98 USD |
| EURO (Currency, Forex) | 1.2035 USD | 1.1860 USD | +0.0175 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 have 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. These 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 Ladies and Gentlemen,
despite all climate change denier, the month July 2017 is globally seen the warmest ever recorded July since the beginning of weather service records. The last three years became the warmest since 1880. The explanation, that El Niño is mainly responsible for these warming is also relative, because El Niño is already resolved.
The European carbon emissions compliance market rose strongly after breaking the resistance around 5.50 Euro. The market was closing 8% higher at 5.81.
But at that level it´s not unlikely, that the market will be faced with a consolidation, because next Friday summer time with halved auction volume will be finished and new 4.473 million German EUAs will find their way to the market. After that on September 4, the ordinary volume of 4.2615 European units are looking for bidders.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 2017-08-18 | 2017-08-11 | Change |
| EUA (Spotmarket) | 5.81 EUR | 5.38 EUR | +0.43 EUR |
| EUA (December-2017-Future) | 5.82 EUR | 5.39 EUR | +0.43 EUR |
| CER (Spotmarket) | 0.21 EUR | 0.21 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 52.83 USD | 52.03 USD | +0.80 USD |
| EURO (Currency, Forex) | 1.1761 USD | 1.1772 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 have 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. These 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
