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EMISSIONS: EUA Spot Permit Price Rises to €65.59/ton CO2e

EMISSIONS
BulletPower BulletsEnergy BulletsCommodities

The latest EU ETS CAP3 EU auction cleared higher at €65.59ton CO2e, compared with the previous auction at €63.88/ton CO2e on 26 September according to EEX.

  • The cover ratio was at 1.61, below the five-year average but within the five-year normal.
  • There was a total of 23 bids with 21 successful bids.
  • The mean price was at €66.25/t CO2e and the median price was at €65.52/ton CO2e.
  • EU ETS Dec24 is trading rangebound today with gains in natural gas markets and lower renewables output in NW Europe. Upside is capped amid weak economic sentiment from Germany after sources said on Monday Germany’s government is expected to cut its growth forecast for 2024 to at best stagnation – from 0.3% growth previously projected - according to Bloomberg. This could have been expected, especially after last week’s soft PMI data. The EU ETS 2023 compliance deadline is today, with most entities expected to have already surrendered allowances for 2023.
    • EUA DEC 24 down 0.1% at 66.29 EUR/MT
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The latest EU ETS CAP3 EU auction cleared higher at €65.59ton CO2e, compared with the previous auction at €63.88/ton CO2e on 26 September according to EEX.

  • The cover ratio was at 1.61, below the five-year average but within the five-year normal.
  • There was a total of 23 bids with 21 successful bids.
  • The mean price was at €66.25/t CO2e and the median price was at €65.52/ton CO2e.
  • EU ETS Dec24 is trading rangebound today with gains in natural gas markets and lower renewables output in NW Europe. Upside is capped amid weak economic sentiment from Germany after sources said on Monday Germany’s government is expected to cut its growth forecast for 2024 to at best stagnation – from 0.3% growth previously projected - according to Bloomberg. This could have been expected, especially after last week’s soft PMI data. The EU ETS 2023 compliance deadline is today, with most entities expected to have already surrendered allowances for 2023.
    • EUA DEC 24 down 0.1% at 66.29 EUR/MT