Issue CCIII

Carbon Newsletter

DBLM Solutions
24 Sep 2015

The EUA Dec14 contract is currently at 8.04.

There was a mixed bag for German power prices
this week. German power went up whilst French
power receded. German baseload power for day
ahead delivery fell 6.40 or 15.69% to 34.40/
MWh on increased renewables to the grid. The
equivalent French contract rose 1.50 or 3.19% to
48.50/ MWh.
During the week, the EU Environment Council
gave the final go ahead to the New European
Carbon Market Sustauinability reserve. The MSR
will be established in 2018 and come into effect
from January 2019. The so-called backloaded
allowances around 900 of whose auctioning was
postponed from 2014/16 until 2019/20 and
unallocated allowances from the third phase of the
EU ETS will also be placed in the reserve.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

17/09/2015

8.21

0.51

8.24

0.50

18/09/2015

8.09

0.51

8.12

0.49

21/08/2015

8.00

0.52

8.00

0.50

22/09/2015

8.00

0.51

8.04

0.50

23/09/2015

8.05

0.51

8.09

0.51

Volumes lots

3,869

294

42,682

4,851

-1.94%

-1.82%

2.0%

Week %

The EUA/CER spread widened this week to 7.54,

at close of business last night versus the 7.71
spread we witnessed last week and 7.75 the week
before.

Auctions
EEX held auctions last Thursday, Friday & Mon,
Tuesday & Yesterday, Auction prices were 8.18,
8.16, 8.04, 7.98 & 8.04 respectively. The
cover ratios for the above auctions were 3.90, 3.26,
3.64, 3.98 & 4.14 respectively. (Cover Ratio =
Number of bids/Auction Volume)

Post 2020 Targets

Intended National Dertermined Contributions
(INDCs), have now been submitted to the UN
ahead of the Global Climate Talks for December in
Paris this year
To date only 29 Nations belonging to the 169
strong collective of UN members have submitted
targets.

The contents of the Newsletter is not a recommendation, either implicit or explicit, to buy or sell emission permits.
Contact: David Boles, Compliance Markets -Direct: +3531 4433 584; Mob: +353 831747707
DBLM Solutions is partly funded by the Wicklow Enterprise Board.