Dear Sir or Madam,
After more than 140 years, the United Kingdom has become the first European industrialised country and the first G7 country to phase out the generation of electricity from coal, which is particularly harmful to the climate. On 30 September 2024, the last coal-fired power plant in Ratcliffe-on-Soar was shut down.
This was possible specifically because the UK continues to use nuclear power as a bridging technology.
And France, too, emitted about 3.6% fewer greenhouse gases in the first half of 2024, partly due to the expansion of renewable energies and the optimisation of nuclear energy use.
But more and more energy-intensive technology companies such as Microsoft, Google and Amazon are also increasingly relying on nuclear power to meet the ever-growing energy needs of their data centres and thus achieve their own emissions reduction targets. In particular, artificial intelligence and cloud computing have significantly increased the demand for electricity in this industry.
However, Germany also emitted around 40 million tonnes less CO2 in the energy sector in the first half of the year, due to both the expansion of renewable energies and the looming recession.
And it is precisely these developments that have led to the fact that in the past few months, rather bullish tendencies have been seen in the market for CO2 emission rights in the EU ETS since the highs in the triple digits in spring 2023.
However, in the past trading week, the 60-euro mark proved stable and although the price was briefly below 60 on Wednesday, a small rally set in, which ended on Thursday in the area of the 200-day line. On a weekly closing price basis, this resulted in a gain of just over 4%.
Should there be no further fundamental impulses, the market should move in the new trading week in the area of 60 euros and the 200-day line, which currently stands at 65.19.
This week, a total of 12,810,000 EUA will be auctioned on the EEX on all five trading days, which corresponds to a decrease of 12.15% compared to the previous week.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 04/10/24 | 11/10/24 | Change |
| EUA (December-2024-Future) | 62.05 EUR | 64.62 EUR | +2.57 EUR |
| VER (Natural Carbon Offsets) | 0.33 USD | 0.33 USD | +0.00 USD |
| VER (CORSIA eligible Carbon Offsets) | 0.38 USD | 0.43 USD | +0.05 USD |
| nEZ (German National Carbon Units) | 45.00 EUR | 45.00 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 78.74 USD | 79.38 USD | +0.64 USD |
| EURO (Currency.. Forex) | 1.0965 USD | 1.0931 USD | -0.0034 USD |
(The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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.
With kind regards,
Your Advantag – Team