Dear Ladies and Gentlemen,

Calculations of the Environmental Ministry showed, that Germany will not reach the target of reduction of greenhouse-gases by 40% against 1990; they computed only a possible reduction of 32%. One of the main reasons are the ongoing use of coal power, which have still 43% by the German power mix despite the extension of renewable energy in Germany. That might have a coherence with the decrease of atom power.

Last Thursday, the trilogue of European Parliament, European Council and European Commission regarding the reform of the European Emissions Trading System happened. The long meeting, which 14 hours lasts, did not result in a final agreement. Especially the major point of energy production by coal power was a killing point, because Poland has not moved from his point of view by its coal based energy policy. The negotiations shall continue at unspecified point in time.

In forefront of the meeting, prices of European Carbon Emission Allowances rose up to nearby 7.60 Euro per ton and closed despite the disappointing result on weekly basis with a surplus of nearly 5%.

(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.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

With kind regards,

Advantag Services GmbH

Dear Ladies and Gentlemen,

Andreas Kuhlmann from German Energy Agency, is the main initiator of a group of 15 energy experts, who require from the new elected German federal government innovative measures to encourage climate protection on a broad economic basis.

One of the central points of the proposal is a minimum price for all sectors to include for example transport sector, households or agricultures also, which are currently not included in the European Emissions Trading System. These revenues shall reduce taxes and charges and benefit the citizen by lower associated employer outlay.

This Thursday EU member states will meet for a final conference to complete the reform talks. Prior to this, the price of European Carbon Emission Allowances stays mostly stable.

(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.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

With kind regards,

Advantag Services GmbH

Dear Ladies and Gentlemen,

Quite accurate 30 years ago, the Montreal agreement for protection of the ozonosphere was signed.  Today, the ozone hole is no big talking point anymore. Scientists agree, that no later than at the middle of this century, the ozone hole will be at the same level as 1960. On one hand it was an important step for the global waiving of ozone-harmful chlorofluorocarbon (CFC), on the other hand a soon aid for the climate protection, because CFC is also extremely climate-harmful.

This success shows, that it´s possible for the international community, to fight negative human made environmental influences. This should have an inspiring example for the current global protection activities.

The prices of European emission allowances got raising strongly last week and reached a 20-month-high on last Tuesday at more than 7.70 Euro for short time per EUA. That was followed by profit taking, which finally leads to a small loss on weekly basis. Especially stronger energy prices for oil and power together with the ongoing talks to reform the EU Emissions Trading System ETS was the price-building factors.

Even the new trading week has started a little more mildly, because the air for the energy complex is getting thinner after the increase of the last weeks. That´s why one should keep an eye on the development of oil, gas and power prices.

(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.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

With kind regards,

Advantag Services GmbH