Issue CLXXVII

Carbon Newsletter

DBLM Solutions
26 Mar 2015

The EUA Dec14 contract is currently at 7.00.

The MSR start date was finally decided after a
compromise was not reached in the morning
session yesterday, resulting in a 4% drop to 6.78.
After lunch, EU nations agreed to start the MSR in
2021, regaining earlier losses.Unallocated EUAs
will undergo further consideration.
Analysts believe that the combination of the MSR
start date finally agreed, Germany proposing a floor
price of 15-16/EUA for German Lignite and coal
fired power plants plus the dark spark spread rising
0.50 should continue to support carbon prices.
Carbon price support should arise as we approach
the cut off date for UN offsets viable for EUETS
compliance. After, 30 March 2015, all CERs
issued prior to January 2012 will not be eligible for
use in the EUETS.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

19/03/2014

6.67

0.02

6.71

0.40

20/03/2014

6.95

0.02

7.12

0.41

23/03/2014

7.01

0.02

7.09

0.41

24/03/2014

7.04

0.02

7.07

0.40

25/03/2014

6.94

0.02

7.00

0.41

Volumes lots

6,156

1,076

110,220

622

Week %

4.04%

4.32%

-2.5%

The EUA/CER spread widened this week to 6.92,

at close of business last night versus the 6.74
spread we witnessed last week and 6.93 the week
before.

Auctions
EEX held auctions last Thursday, Friday, Monday
& Tuesday . Auction prices were 6.70, 6.94,
7.02 & 6.77 respectively. The cover ratios for the
above auctions were 2.88, 2.92, 2.69 & 2.14
respectively. (Cover ratio = no. of bids divided by
auctioned allowances. In additio, yesterday EEX
sold 1,809,000 Aviation allowances at 6.88.

Impact Investment. GSF1

The GSF1 fund(www.opensparkz.com) is unique in
the way it mobilises technologies from around the
globe to supply European Utilities with feedstock
that has a carbon footprint that is 80% less GHG
intensive than existing lignite and coal fired plants.
The fund has brought together innovators in their
respective fields to reach this goal,

Viridis Aquaponics (USA)

New Generation Biogas (England)(www.ngbiogas.com)
iFood Systems (Canada) (www.ifoodsystems.com)
Flexiway Solar Solutions (Australia (www.nrs-international.com)
Hedviga Group (Czech Republic) products that convert organic
materials from waste (www.hedviga.cz)
Arcadian Biomass (USA) (www.arcadianbiomass.com)
Aquiva Foundation (England) (www.aquiva-foundation.com)
Risk Management International, Ireland's (www.rmi.ie)
Indaba Mobile, a South African-based (www.indabamobile.co.za)
OpenCarb LP, an Irish-based enterprise, that secures, trades and
assures biodiversity rights from sustainable projects for the
benefit of those communities
protecting the environment (www.opencarb.com)

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:00353 831747707
DBLM Solutions is partly funded by the Wicklow Enterprise Board.