This newsletter was published 29.4.2026 at 17:34pm CEST

The current prices on the European carbon market are as follows:

Carbon has traded in a relatively stable range for most of the week, with the December 2026 futures contract hovering around the 75 EUR level. Market conditions appeared balanced, supported by consistent demand in the primary market. Auctions continued to clear at a premium to secondary market prices, signalling solid underlying buying interest. However, this equilibrium was disrupted during today’s session, as the market came under notable selling pressure in the afternoon hours. The December 2026 contract broke below the recent range and traded down through 73 EUR. The sell-off appears to have been at least partly linked to persistent political and geopolitical uncertainty, which continue to weigh on market confidence. With investment funds still holding a degree of net length, the market remains exposed to bouts of selling should sentiment deteriorate. In contrast, the broader energy complex moved higher. Gas prices edged up alongside crude oil, with front-month TTF breaking the 46 EUR level again. This move may indicate that the market is beginning to reassess and price in the potential consequences of the ongoing geopolitical conflict, particularly around supply chains and disruption.

German power prices are up by 1.55 EUR since last week, with the front-year contract trading at 92.00 EUR/MWh. API2 coal prices are up by 8.75 USD since last week, with the Cal-27 contract trading at 123.00 USD/tonne. Front-year gas prices are up by 2.350 EUR since last week, with the TTF Cal-26 trading at 37.950 EUR/MWh. EUR/USD is down by 40 points since last week and is currently trading at 1.1690.

Price development of EUA Dec2026 futures contract