Dear Sir or Madam,
Against the background of the increasingly catastrophic and cost-intensive effects of climate change, the governing parties in Germany are preparing for the 20th of September. Decisions on climate policy are to be launched on this day, but unity of the coalition parties cannot be found shortly before this date. There is a consensus, that CO2 emissions should have a price, but however, the question of the “how” between CO2 taxes on the one hand and a national emissions trading on the other is still highly controversial. It will be a Herculean task to distribute the burdens of the most urgently needed climate protection in a socially equitable manner but also not to strangle the country’s economy. At the same time, of course, the climate targets for 2030 should not be forgotten.
The carbon market did not show a consistent trend during the past trading week. The Brexit chaos, fundamental economic data and the increased supply of fresh certificates have led to very different dealer behavior. In the first half of the week as well as last Friday, for example, massive sales led to a significant correction cuts and pushed the price below the 25-euro mark. In between, however, was quite strong buying interest in the market, so one could even imagine a breakthrough up. In today’s early trading, the bullish signals again prevailed and pushed the price to over EUR 25.30.
| (Average Quotes Exchange / OTC) | |||
| Instrument | 30/08/2019 | 06/09/2019 | Change |
| EUA (Spotmarket) | 26.31 EUR | 25.06 EUR | -1.25 EUR |
| EUA (December-2019-Future) | 26.32 EUR | 25.08 EUR | -1.24 EUR |
| CER (Spotmarket) | 0.21 EUR | 0.21 EUR | +0.00 EUR |
| ICE Brent Crude Oil (Benchmark Future) | 58.95 USD | 61.63 USD | +2.68 USD |
| EURO (Currency, Forex) | 1.0989 USD | 1.1026 USD | +0.0037 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. 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. 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