The Carbon Market 12.02.2015

The ICE exchange from London opened up its operations:

• EUA spot opened at € 7.28
• EUA Dec 15 futures opened at € 7.35
• CER spot contract opened at € 0.03
• Brent Crude Front Month (March 2015) trades at $ 55.73
• German Power Front Month trades (March 2015) at € 31.70

The International Carbon Market

China will launch in 2016 a national scheme for greenhouse gas emissions, which will be fully functional in 2019.

According to a Chinese official, Jiang Zhaoli, the carbon market in China will include six sectors of activity: steel, energy, nonferrous metals, chemicals, building materials and aviation, including companies in these areas with an yearly production of at least 26,000 t CO2.

Currently, China has in operation seven regional CO2 pilot system.

Source: Eco News

The CO2 Emissions Market 03.02.2015

The ICE exchange from London opened down its operations:

• EUA spot opened at € 7.08
• EUA Dec 15 futures opened at € 7.22
• CER spot contract opened at € 0.03
• Brent Crude Front Month trade at $ 55.00
• German Power Front Month trade at € 31.70

The European Carbon Market EU ETS

Last week, ECOFYS published some data on the European carbon market – EU ETS. According to Ecofys, at the end of the third phase of the ETS (2020), the market will have a surplus of 500-900 million allowances, as a result of free allocation to industry in the previous period, especially from 2008 to 2012, the regulations regarding the process of “back-loading” and the new entrants reserve NER.

Source: Ecofys, UK

The Carbon Market 29.01.2015

The ICE exchange from London opened up its operations:

• EUA spot opened at € 7.00
• EUA Dec 15 futures opened at € 7.06
• CER futures contract Dec 15 opened at € 0.43
• Brent Crude Front Month trade at $ 48.69
• German Power Front Month trade at € 35.50

The European Carbon Market EU ETS

Last week, EUA price fell by about 60 cents in one day, due to lack of opinion of the ITRE Committee from the European Parliament related to the MSR (Market Stability Reserve).

Although opinions differ, we believe that the ambiguous result from the ITRE Committee can be positively interpreted because the decision on MSR will remain to the ENVI Committee of the EP, through the vote scheduled on 24^th February. At this time, ENVI members of the Parliament support an early implementation of the MSR, in 2017.

Please note that the MSR  refers to the withdrawal from the market of 900 million EUAs to remain in this reserve. Basically, the allowances that come on the market in 2017 as a result of the “back-loading” process, will go directly into this reserve, without affecting the increasing of the supply of CO2 certificates on the EU ETS market.

The Carbon Market 16.12.2014

The ICE exchange from London opened up its operations:

• EUA spot opened at € 6.91
• EUA Dec 15 futures opened at € 6.96
• CER futures contract Dec 15 opened at € 0.53
• Brent Crude Front Month trade at $ 60.65
• German Power Front Month trade at € 36.50

The Carbon Market 10.12.2014

The ICE exchange from London closed down its operations:

• EUA spot closed at € 6.53
• EUA DEC14 futures closed at € 6.55
• CER futures contract Dec14 closed at € 0.02
• Brent Crude Front Month trade at $ 63.85
• German Power Front Month trade at € 37.00

The International Carbon Market

The United Nations Framework Convention on Climate Change (2 – 12 December 2014) takes place in Lima, Peru. The Convention is attended by heads of state and government, and representatives from all fields: economic, social (foundations and various associations), media etc.

The main topics on the agenda of the Conference are the followings: making a draft text for the UN Conference of the next year, in Paris, so that all governments can establish specific targets for emission reductions, which are comparable between countries, and obtaining funding sources for poor countries in the developing world, in order to reduce CO2 emissions and adapt to climate change.

Developing countries have achieved a great victory these days in terms of financing: the Green Climate Fund reached $10 billion, as a result of last contributions announced by ministers from Belgium and Australia.

Carbon Expert will keep you posted on with the latest news on climate change from Lima.

The Carbon Market 02.12.2014

The ICE exchange from London opened up its operations:

• EUA spot closed at € 7.04
• EUA DEC14 futures closed at € 7.09
• CER futures contract Dec14 closed at € 0.04
• Brent Crude Front Month trade at $ 72.51
• German Power Front Month trade at € 37.50

The Carbon Market 18.11.2014

The ICE exchange from London closed up its operations:

• EUA spot closed at € 7.01
• EUA DEC14 futures closed at € 7.01
• CER futures contract Dec14 closed at € 0.08
• Brent Crude Front Month trade at $ 78.58
• German Power Front Month trade at € 34.85

The International Carbon Market

Together, the U.S. and China account for over one third of global greenhouse gas emissions.  Last week joint announcement was the culmination of months of bilateral dialogue, highlights the critical role the two countries must play in addressing climate change.

The United States announced a new target to cut net greenhouse gas emissions 26-28 percent below 2005 levels by 2025. At the same time, China announced targets to peak CO2 emissions around 2030, with the intention to try to peak early, and to increase the non-fossil fuel share of all energy to around 20 percent by 2030.

The actions they announced are part of the longer range effort to achieve the deep de-carbonization of the global economy over time. These actions will also inject momentum into the global climate negotiations on the road to reaching a successful new climate agreement next year in Paris at the UNFCCC Conference on climate change.

For more information, please click here.

The Carbon Market 10.11.2014

The ICE exchange from London closed down its operations:

• EUA spot closed at € 6.69
• EUA DEC14 futures closed at € 6.71
• CER futures contract Dec14 closed at € 0.09
• Brent Crude Front Month trade at $ 82.79
• German Power Front Month trade at € 34.25

EU ETS Market

News that the French government would support both the early implementation of the Market Stability Reserve and the cancellation of backloaded allowances (added to the reserve) saw the EUA push on to a higher price. The EUA remains well bid despite fears of over extension to the upside.

The Carbon Market 23.10.2014

The ICE exchange from London opened up its operations:

• EUA spot closed at € 6.21
• EUA DEC14 futures closed at € 6.23
• CER futures contract Dec14 closed at € 0.07
• Brent Crude Front Month trade at $ 85.96
• German Power Front Month trade at € 35.60

The Carbon Market 15.10.2014

The ICE exchange from London opened down its operations:

• EUA spot closed at € 6.05
• EUA DEC14 futures closed at € 6.04
• CER futures contract Dec14 closed at € 0.09
• Brent Crude Front Month trade at $ 85.54
• German Power Front Month trade at € 34.85

The International Carbon Market

The International Energy Agency (IEA) today welcomed the launch of the world’s first large-scale power station equipped with carbon capture and storage (CCS) technology, calling it a historic milestone along the road to a low-carbon energy future.

The 110MW retrofit of SaskPower’s Boundary Dam coal-fired power plant in Saskatchewan, Canada will trap around 1 million tonnes of carbon dioxide (CO2) per year. The captured CO2 will be injected into nearby oilfields to enhance oil recovery. The plant began capturing CO2 in September and was due to be inaugurated this week.

For more information, please click here.