This newsletter was published 5.8.2026 at 16:46 pm CEST

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

EUAs market traded modestly lower over the past week, with the December 2026 EUA futures contract finding some support just below 81 EUR level after retreating from recent highs. The broader energy complex has presented mixed signals. September TTF gas prices declined to around 52 EUR/MWh as market participants increasingly priced in progress towards reopening the Strait of Hormuz, easing concerns over potential LNG supply disruptions. However, underlying power market fundamentals remain supportive. A prolonged heatwave across much of Europe has continued to boost electricity demand, while exceptionally low water levels on Germany’s major rivers have disrupted coal logistics and inland transport. Positioning data also points to a relatively resilient market. According to the latest CoT report, investment funds reduced their net long exposure by around 6 million tonnes over the week and has now reached the lowest net length since May. Overall, EUAs appear to be consolidating following the strong rally seen in recent weeks. Support around the 81 EUR level has so far held, while the interplay between evolving policy developments and energy market fundamentals is likely to remain the key driver of price action. With summer liquidity still subdued, markets may remain sensitive to geopolitical developments and shifts across the broader energy complex.

German power prices are down by 8.70 EUR since last week, with the front-year contract trading at 98.75 EUR/MWh. API2 coal prices are down by 6.00 USD since last week, with the Cal-27 contract trading at 117.25 USD/tonne. Front-year gas prices are down by 4.425 EUR since last week, with the TTF Cal-26 trading at 38.895 EUR/MWh. EUR/USD is up by 160 points since last week and is currently trading at 1.1550.

Price development of EUA Dec2026 futures contract