Tag: Klimaschutz

Dear Sir or Madam,

The Austrian National Bank (Oesterreichische Nationalbank) has used a simulation model to examine the effects of carbon prices on gross domestic product (GDP) growth in the European Union and has also determined what the price of emission rights would have to be to avoid further measures to achieve the EU’s ‘Fit-for-55’ target.

Based on the current price, further measures such as the introduction of higher energy efficiency standards would have to be implemented to achieve the EU’s self-imposed climate targets. However, to avoid further measures altogether, the price of CO2 emissions would have to rise to EUR 668.00 per tonne of CO2 or its equivalent of other greenhouse gases (CO2e) by 2030.

According to the Oesterreichische Nationalbank, such a high price would result in the gross domestic product (GDP) in the euro area in 2030 being 2.2% lower than it would have been without a high carbon price, while consumer prices would be 6.4% higher. However, economists consider these effects to be negligible because they would be spread over a period of six years.

We are currently well away from prices above the 600-euro mark in the EU ETS; the prices for EU emission rights are currently around a tenth of that. After a weekly gain of 4.6 per cent in the previous week, EUA fell by 6.5 per cent this week, despite the significant rise in oil prices due to the escalation in the Middle East. With a low of 61.41 last Friday, a six-month low was also reached.

This week, a total of 14,582,500 EUA will be auctioned on all five trading days at the Leipzig EEX, which corresponds to an increase of 15% compared to the previous week.

(The VER quotes are average rates (carboncredits.com), which can be used within the framework of CORSIA and voluntary carbon offsetting. 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,

Your Advantag – Team

Dear Madam or Sir,

The Taiwan Carbon Solutions Exchange, TCX for short, was opened in Taiwan at the end of last year. So far, only transactions with international carbon credits have been carried out here. The first national Taiwanese emission allowances are now expected to be traded here from October.

There will be three different types of certificates: provisional emission allowances, statutory emission allowances and voluntary emission reduction certificates. These can also be traded in three different ways. Either the buyer determines the price, the buyer or seller agree on a price to be communicated to the Ministry of the Environment or auctions are organised with a minimum price. TCX charges a fee of 5% of the contract volume for all transactions.

Here too, the introduction of the CBAM border adjustment mechanism in the European Union is likely to have been a decisive factor, as in China, where emissions trading is now also to be expanded, as previously only energy suppliers were affected.

The EU would do well to work consistently on a global emissions trading market under the leadership of the European Union before the Asian countries join forces here and claim the leading global position solely on the basis of their trading volume.

Prices in European Emissions Trading System were cautiously bullish last week, but remained stable above the EUR 70 mark. The EUAs of the benchmark December 2024 contract ended the last trading week up 3.4% and closed at a price of EUR 72.52 per tonne of CO2 or its equivalent in other greenhouse gases.

Due to the missing Polish auction this Wednesday, only 11,094,500 EUAs will be auctioned on the Leipzig EEX in the new trading week.

(The VER quotes are average rates (carboncredits.com). which can be used within the framework of CORSIA and voluntary carbon offsetting, 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 GmbH

Dear Sir or Madam,

The European Commission has decided that EU member states will be allowed to auction around 4% more European Emission Allowances (EUAs) in the period from September to December 2024 than in the same period last year. The reason for this was the cost of switching the energy supply in order to end dependence on Russia.

A few days ago, the European Energy Exchange (EEX) published its current auction calendar for the period from September to December of this year.

This means that 13,404,500 EUAs will be auctioned on all five trading days this week, when the Polish primary market auction takes place on a regular basis, compared to 14,582,500 in a comparable week in September.

In addition, there will only be a few auction-free days, as in the weeks in which there are usually no Polish auctions on Wednesdays, either EU auctions are held or Northern Ireland auctions.

In total, 8.2 million more EUAs will be auctioned than was planned in the original auction calendar, which would mean additional revenue of 574.0 million euros at the current price of around 70 euros.

The last auction of 3,248,000 EUAs this year will take place on Monday, 16 December 2024.

In the previous trading week, EUA prices repeatedly found support at the 200-day and 38-day lines, although they were only able to overcome the strong resistance of a sideways downward resistance line intraday.

The 38-day line is currently turning slightly upwards at EUR 69.55, while the 200-day line is still showing bearish tendencies and currently stands at EUR 67.44.

If the EUAs are unable to sustainably break through the resistance of the sideways downwards line in the new trading week, the price will fall below the EUR 70 mark again and probably test the support of the 38 and 200-day lines.

(The VER quotes are average rates (carboncredits.com). which can be used within the framework of CORSIA and voluntary carbon offsetting, 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