Carbon Weekly Newsletter

This newsletter was published 2.9.2020 at 18:28pm CEST

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

EUA prices are still holding up strong since last week as increased auctions start. August started off slowly with almost no changes in prices despite the auction volume being cut in half. However, prices started to turn up towards the end of August and picked up pace after a Financial Times published a bullish article on EUAs. Prices then ran up from around 26 EUR/EUA to over 30 EUR/EUA. Nevertheless, as September started, the effect of increased volume on auctions was big enough to put a stop to the rise. Until the end of the year, 300 million EUAs are waiting to get sold at auctions. This will be a real test of the resilience of the market and might be a reason for prices to start trending down in the short-term. A lot will be dependant on the sentiment on equity markets as well, as the two have seen a correlation in the past.

German power prices are up 0.40 EUR/MWh since last week, with the front year contract trading at 42.00 EUR/MWh. API2 coal prices are up 2 USD/tonne since last week, with the Cal21 contract trading at 56.50 USD/tonne. EUR/USD is up 30 points since last week and is currently trading at 1.1830.

Price development of EUA Dec2020 futures contract
Yours sincerely,
Jan Kresnik 
Carbon Trader

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