EU ETS reaches record highs
Utility hedging and a tighter supply-demand balance are boosting prices, but falls still expected later in year
Prices in the EU emissions trading system (ETS) reached above €100/t CO₂ ($106/t CO₂) last week and hit their highest-ever closing level. Although not quite rising to the record high of €102/t CO₂ from last August—stopping just short at €101.19/t CO₂—the market has breached €100/t CO₂ for five of the last six trading days and average closing prices last week were the highest ever. Previously, when the market has risen to this level it has quickly fallen back as traders sold positions to lock in profits from the rallies. But profit-taking has failed to materialise this time, with traders betting the market could still rally further and breach the all-time high. 16pc — Amount of EU’s ele
Also in this section
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies
8 April 2024
Chevron New Energies is lead investor in funding round by Colorado-based provider of post-combustion capture technology