Emissions Trading / Carbon Market News (02/01/2023)

Dear Madam or Sir,

We hope you had a great start to the new year.

The  New Year’s Eve 2022 has set a temperature record in Germany; with up to 21°C it was warmer than ever on this date since weather recording began. Unfortunately, this record, like last year’s extreme summer temperatures, will not remain uncommon.

It is up to all of us, especially those in the industrialized world, to take action to help slow down climate change so that humanity still has a chance to adapt. And that starts with every kilogram of CO2 that each and every one of us can avoid through our lifestyle and consumer decisions.

In the last week of trading of the year, European carbon emission allowances fell significantly, testing a key technical support line on Friday. On the last trading day of 2022 alone, the trading range was between EUR 80.58 and EUR 85.97 in the new December 2023 benchmark contract, but it was able to recover significantly from the daily low with a closing price of EUR 83.97.

There are no auctions on the Leipzig energy exchange EEX this week. In the coming week, a total of 9,166,500 EUAs will be auctioned over four trading days.

In addition, from Tuesday, January 10th, 2023, auctions in national emissions trading will be held again at a fixed price of EUR 30.00 per national emission allowance.

  (Average Quotes Exchange / OTC)   
EUA (Spot-Market)88.98 EUR83.51 EUR-5.47 EUR
EUA (December-2023-Future)89.37 EUR83.97 EUR-5.40 EUR
VCU (Voluntary Carbon Units ø)3.81 USD4.60 USD+0.79 USD
VER (Gold Standard Spotmarkt ø)2.75 USD3.84 USD+1.09 USD
nEZ (German National Carbon Units)30.00 EUR30.00 EUR+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)83.92 USD83.02 USD-0.90 USD
EURO (Currency, Forex)1.0614 USD1.0701 USD+0.0087 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