Emissions Trading / Carbon Market News (13/06/2022)

Dear Madam or Sir,

Last Wednesday, the EU Parliament met and voted on the proposals for the reform of EU emissions trading system. These were rejected with 340 no and 265 yes votes.

MEP Dr. Peter Liese, who worked out the compromise proposal and brought it to the vote, sees the main blame for this in particular with the social democratic parliamentary group, which was particularly dissatisfied with the timetable for the introduction of the CO2 border taxation and the expiry of the free allocation of CO2 emission rights.

The Greens, on the other hand, found the proposal too softened by the lobbyists of the fossil industry, as MEP Michael Bloss announced.

Now the talks in the Environment Committee regarding the reform of the EU ETS have to start all over again.

The market then reacted with significant losses, but remained stable above the EUR 80 mark towards the end of the trading week.

In the new week, a total of 8,830,500 EUAs and 600,000 emission allowances for the aviation industry (EUAA) will be auctioned at the Leipzig energy exchange EEX.

  (Average Quotes Exchange / OTC)   
EUA (Spot-Market)88.73 EUR81.74 EUR-6.99 EUR
EUA (December-2022-Future)88.87 EUR81.86 EUR-7.01 EUR
VCU (Voluntary Carbon Units ø)10.85 USD10.42 USD-0.43 USD
VER (Gold Standard Spotmarkt ø)4.98 USD4.62 USD-0.36 USD
nEZ (German National Carbon Units)30.00 EUR30.00 EUR+0.00 EUR
ICE Brent Crude Oil (Benchmark Future)121.69 USD122.01 USD+0.32 USD
EURO (Currency, Forex)1.0562 USD1.0515 USD-0.0047 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