This newsletter was published 6.8.2025 at 17:47pm CEST

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

EUAs have cooled off after last week’s spike, settling back into the middle of the trading range established over recent months. Despite the brief surge driven by technical buying and stronger demand, the market has shown no clear momentum to break out in either direction. Trading activity has slowed, with average daily volumes declining and price ranges narrowing, which is typical for August, a seasonally quiet period. Analysts continue to hold a neutral outlook, expecting prices to remain rangebound in the short term. Weather forecasts show no major disruptions ahead, although a potential heatwave in the Iberian Peninsula could modestly lift power sector demand. Investment funds have slightly increased their long positions, offering some support. Looking ahead, the compliance deadline at the end of September, which is often a trigger for price moves, could bring renewed volatility. For now, the market remains steady, with 70 EUR acting as a key psychological and technical level.

German power prices are down by 2.39 EUR since last week, with the front-year contract trading at 86.42 EUR/MWh. API2 coal prices are down by 1.55 USD since last week, with the Cal-26 contract trading at 111.00 USD/tonne. Front-year gas prices are down by 1.040 EUR since last week, with the TTF Cal-26 trading at 33.350 EUR/MWh. EUR/USD is up by 160 points since last week and is currently trading at 1.1640.

Price development of EUA Dec2025 futures contract