Emissions Trading / Carbon Market News (2017-05-02)

Dear Ladies and Gentlemen,

US President Donald Trump, who is always good for a surprise, apparently wants to declare his point of view about the world climate agreement up to the middle of the month. During the election campaign Trump had announced the withdrawal of the United States from the Treaty of Paris. To this, SPIEGEL ONLINE has now reported that the Secretary of State for Energy, Rick Perry had spoken out against a withdrawal of his country from the Treaty. However, he wants to renegotiate it. According to the report, the Secretary spoke at a conference for new energies in New York and accused Germany of massive reproaches because it did not sufficiently reduce its greenhouse gas emissions. Perry said the US and China have made a major contribution to reducing climate-damaging emissions. France and Germany, on the other hand, did not do enough. Germany has announced the nuclear phase-out and a massive expansion of renewable energies. “But the fact is that their emissions have increased because they use more coal, and they use coal that is not a clean technology,” Perry criticized. How the US administration imagine a renegotiation of the already ratified and entered into force contract is, however, completely unclear.

Talking of coal – just on the so-called “Earth Day”, a day of action, which is celebrated every year on 22 April in more than 175 countries, the British energy industry has been able to forgo completely the use of coal for energy supply for 24 hours. The National Grid, understandably described this as a milestone. In the run-up to the Paris Climate Agreement, Britain announced that it would completely abandon coal as an energy source by 2025, and is in fact on the right track – also thanks to the carbon tax, which makes coal combustion more unattractive in comparison. In Scotland, coal has not been fired since 2016. In Germany, on the other hand, coal-fired power plants account for a very significant share of the energy supply at around 45 percent.

At the market for European pollution rights, the usual last-minute purchases to the end of the compliance period have been left out this year. As a result, both trade impulses and orientation were missing in the last days of April. Thereupon, the price moved sideways in an extremely narrow price range and finally settled between EUR 4.50 and EUR 4.60.


(Average Quotes Exchange / OTC)
Instrument 2017-04-28 2017-04-21 Change
EUA (Spotmarket) 4.56 EUR 4.59 EUR -0.03 EUR
EUA (December-2017-Future) 4.57 EUR 4.60 EUR -0.03 EUR
CER (Spotmarket) 0.24 EUR 0.25 EUR -0.01 EUR
ICE Brent Crude Oil (Benchmark Future) 51.84 USD 51.93 USD -0.09 USD
EURO (Currency, Forex) 1.0896 USD 1.0727 USD +0.0169 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.)

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