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EMISSIONS: UKAs Rally Following 2030 Clean Power Target Comments

EMISSIONS
CEEMEAEnergy BulletsBulletPower BulletsUKCommodities

UKAs Dec25 are rallying, coinciding with the Industry and Regulators Committee meeting, where an Ofgem director commented that meeting the UK’s 2030 Clean Power Target is challenging. EUAs Dec25 remain rangebound, moving in tandem with EU gas price movements.

  • EUA DEC 25 up 0% at 70.12 EUR/t CO2e
  • UKA DEC 25 up 2.7% at 44.73 GBP/t CO2e
  • TTF Gas APR 25 down 0.9% at 40.875 EUR/MWh
  • NBP Gas APR 25 down 0.4% at 100.51 GBp/therm
  • Estoxx 50 up 0.9% at 5490
  • TTF front month is slightly lower today. Warming weather this week, EU proposals for storage target flexibility and hopes for progress in Ukraine peace negotiations are adding pressure while Norwegian field outages and rising Middle East geopolitical risk is adding some support.
  • The latest EU ETS CAP3 auction cleared at €68.66/ton CO2e, up 0.19% compared with the previous EU auction at €68.53/ton CO2e according to EEX.
  • UKAs Dec25 are rising to £44.75/ton CO2e, up 3.5% compared with an intraday low of £43.22/ton CO2e earlier in the session. The rally is coinciding with the House of Lords discussions of the Industry and Regulators Committee on energy grids and grid connections.
  • Aviation and shipping are estimated to generate €5bn in ETS revenues in 2024, rising to €30bn annually by 2030, a new T&E report shows.
  • The EU ETS2 price may reach €190/ton CO2e by 2030, with worst-case and base-case scenarios at €122/ton CO2e and €149/ton CO2e, respectively, driven by differences in market horizons, according to BNEF.
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UKAs Dec25 are rallying, coinciding with the Industry and Regulators Committee meeting, where an Ofgem director commented that meeting the UK’s 2030 Clean Power Target is challenging. EUAs Dec25 remain rangebound, moving in tandem with EU gas price movements.

  • EUA DEC 25 up 0% at 70.12 EUR/t CO2e
  • UKA DEC 25 up 2.7% at 44.73 GBP/t CO2e
  • TTF Gas APR 25 down 0.9% at 40.875 EUR/MWh
  • NBP Gas APR 25 down 0.4% at 100.51 GBp/therm
  • Estoxx 50 up 0.9% at 5490
  • TTF front month is slightly lower today. Warming weather this week, EU proposals for storage target flexibility and hopes for progress in Ukraine peace negotiations are adding pressure while Norwegian field outages and rising Middle East geopolitical risk is adding some support.
  • The latest EU ETS CAP3 auction cleared at €68.66/ton CO2e, up 0.19% compared with the previous EU auction at €68.53/ton CO2e according to EEX.
  • UKAs Dec25 are rising to £44.75/ton CO2e, up 3.5% compared with an intraday low of £43.22/ton CO2e earlier in the session. The rally is coinciding with the House of Lords discussions of the Industry and Regulators Committee on energy grids and grid connections.
  • Aviation and shipping are estimated to generate €5bn in ETS revenues in 2024, rising to €30bn annually by 2030, a new T&E report shows.
  • The EU ETS2 price may reach €190/ton CO2e by 2030, with worst-case and base-case scenarios at €122/ton CO2e and €149/ton CO2e, respectively, driven by differences in market horizons, according to BNEF.