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EMISSIONS: EUA Price Volatility Decreases

EMISSIONS
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EUA December 2024 futures prices have seen less volatility recently with the 30-day average last seen at 38% as of end September, compared with above 60% in May, when elections in Europe and volatility in gas prices has supported EUA price volatility according to BNEF (see chart). 

  • EUA prices are expected to decline year on year, amid less emissions from the power sector and a struggling industrial demand recovery.
  • EU power emissions are 16% lower year on year as of the end of October, despite a 3% increase in power demand, BNEF data showed.
  • Power emissions are on track to 14% lower year on year in 2024. 
     
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EUA December 2024 futures prices have seen less volatility recently with the 30-day average last seen at 38% as of end September, compared with above 60% in May, when elections in Europe and volatility in gas prices has supported EUA price volatility according to BNEF (see chart). 

  • EUA prices are expected to decline year on year, amid less emissions from the power sector and a struggling industrial demand recovery.
  • EU power emissions are 16% lower year on year as of the end of October, despite a 3% increase in power demand, BNEF data showed.
  • Power emissions are on track to 14% lower year on year in 2024.