Dear Sir or Madam,
Largely unnoticed by the rest of the German country, a clearly recognizable consequence of climate change in Germany is emerging in the Harz Mountains. Here are the dams of the six reservoirs, which are responsible for the regional drinking water supply, only at a level of only 45%. Since the beginning of the records in 1857, there has never been so little rainfall there as in the past few months. In addition, drinking water consumption has been particularly high due to the high summer temperatures.
If the drought persists, the water supply would last only a few months. The waterworks there have already taken initial measures to ensure the future supply. The people in the region are still not called to save water, but if no precipitation-rich fall and winter follow, the dams in February are mathematically empty in February 2019. A scenario that is known in Germany so far only from disaster films.
In the past week, CO2 emission certificates increased by more than 10% and closed above the mark of 23 euros per ton of CO2. In addition to the trend sequel, this may have been due to the announcement that Ministries of the Environment of France and Germany intend to devise common methods for the future pricing of greenhouse gas emissions over the next six months. An important point here is the extension of CO2 emissions trading to other industries and economic sectors that have so far been spared.
In July 2008, a European emission allowance (EUA) peaked at € 29.69 as all-time-high. 10 years later, the price seems to be aiming for this value again, because this morning the EUA were already well above the 25-euro mark. Demand for this week’s auctions and trade volumes are important indicators that need to be kept in mind.
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(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.)
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