In this list
Energy | Electric Power | Natural Gas

EU carbon prices power up to new all-time high

Energy | Oil | Crude Oil

Platts Crude Oil Marketwire

Commodities | Energy | Electric Power | Nuclear | LNG | Natural Gas | Natural Gas (European) | Oil | Crude Oil | Refined Products

Market Movers Europe, Oct 2-6: Power market gears up for winter as gas supply loses Groningen field

Oil | Energy Transition | Energy

APPEC 2024

Agriculture | Energy | Energy Transition | Oil | Sugar | Biofuels | Renewables | Emissions | Carbon | Refined Products | Fuel Oil | Grains | Jet Fuel

Global UCO supply to double by 2030 as US, EU policies drive Asian supply

Energy | Oil | Crude Oil

Dated Brent Price Assessment

Metals | Energy | Coal | Energy Transition | Electric Power | LNG | Natural Gas | Steel | Steel Raw Materials | Coking Coal | Emissions | Carbon | Electricity | Renewables

Commodity Tracker: 5 charts to watch this week

For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today.

Subscribe Now

EU carbon prices power up to new all-time high


Prices top Eur59/mt on strength in wider energy complex, investor interest

Tight primary supply supports prices in week to Aug 27

Upcoming holidays set to further curtail short-term supply

  • Author
  • Frank Watson
  • Editor
  • James Leech
  • Commodity
  • Energy Electric Power Natural Gas

EU carbon allowance prices under the EU Emissions Trading System powered up to an all-time high in the week to Aug. 27, topping the Eur59/mt mark for the first time, with curtailed auction supply combining with strength in the wider energy markets.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

EU Allowance futures contracts for December 2021 delivery on the ICE Endex exchange rallied as high as Eur59.70/mt ($70.38/mt) Aug. 27, up from Eur56.86/mt at the close on Aug. 26 and Eur54.38/mt a week ago on Aug. 20.

August has been characterized by a sharp reduction in primary supply of EUAs from government auctions, with total supply slashed by more than 50% to only 32 million mt.

The tight supply will become more acute in the week starting Aug. 30, which will see supply dwindle to only 5.6 million mt from three auctions instead of the usual five, due to a bank holiday on Aug. 30 and auction host the European Energy Exchange being closed for an annual committee meeting on Sept. 2.

On the demand side, crude led the energy complex higher through the week, providing a supportive backdrop for the European power complex. Similarly, European natural gas prices rebounded during the week compared with a sharp drop in the week ending Aug. 20.

On the long-term charts, December 2021 EUA futures have shown successively higher lows since a sharp price drop in mid-May, highlighting the current uptrend, and prices finally topped the previous all-time high of Eur58.64/mt seen on July 1.

On the financial side, net investor length showed further increases through the week with EUA holdings in the Krane Shares Global Carbon ETF fund rising 8% compared with the week ending Aug. 20. The KRBN fund, which also contains US regional carbon prices, is seen as a global carbon market indicator and allows investors to gain exposure to the wider theme of international carbon pricing.

Meanwhile in the voluntary carbon markets, S&P Global Platts assessed CORSIA-eligible carbon (CEC) credits at $5.65/mt at the close Aug. 27, compared with $5.25/mt on Aug. 20. Platts assessed nature-based credits at $7.00/mt Aug. 27, compared with $7.10/mt on Aug. 20.