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German Spot Permit Price Rises, Cover Ratio at 2024 High

EMISSIONS

The latest weekly German EUA CAP3 auction cleared today at €74.49/MWh, up from €72.80/t CO2e in the previous auction held on 24 May according to EEX.

    • EUA DEC 24 up 0.9% at 76.15 EUR/MT
  • The cover ratio rose to 2.19, the highest so far this year, and up from 2.05 in the previous auction.
  • Total volume amounted to 1.796mn tons CO2e, unchanged from the last auction, while the amounts of total bids rose to 3.928mn, up from 3.679mn in the previous auction.
  • The EU ETS Dec 24 contract has extended gains following the auction results to rise to the highest since 28 May. Tomorrow’s TNAC announcement by the EC will give further guidance on allowance supply for the rest of the year.

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