Issue CXCII

Carbon Newsletter

DBLM Solutions
09 July 2015

The EUA Dec14 contract is currently at 7.45.

European power markets give a mixed signal as
German power falls whilst French power increases.
Wind power outputs are the main reasons for the
move. Yesterday, the European Parliament
approved the proposal to introduce a Market
Stability Reserve for the EUETS, starting in 2019.
The market showed little to no reaction as the
prolonged process concluded in anti climax. All
that is left now is the sign off by EU member states
to become EU law.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

02/07/2015

7.41

0.43

7.48

0.41

03/07/2015

7.42

0.43

7.45

0.45

06/07/2015

7.37

0.43

7.38

0.41

07/07/2015

7.44

0.45

7.48

0.45

08/07/2015

7.45

0.46

7.46

0.46

Volumes lots

7,355

50

57,479

685

Week %

0.53%

6.97%

-0.26%

12.19%

7.33 & 7.35 respectively. The cover ratios for the

above auctions were 3.11, 2.89, 2.21, & 3.06
respectively. (Cover ratio = no. of bids divided by
auctioned allowances.

Effort Sharing Decision

Below illustrates member states progress towards
the 20 20 20 targets. a 20 % reduction of the EU's
GHG emissions compared to 1990, a 20 % share of
renewable energy sources (RES) in the EU's gross
final energy consumption & finally, a 20 % saving
of the EU's primary energy consumption compared
to projections. The EU is on track as a whole to
achieve its 20% target for renewables for 2020. In
2012, the 14.1 % share of RES in gross final
energy consumption in the EU was higher than the
13.0 % target for 2012, which results from Member
State National Renewable Energy Action Plans
(NREAPs).

The EUA/CER spread narrowed this week to

6.99, at close of business last night versus the
7.04 spread we witnessed last week and 7.05 the
week before.

Auctions
EEX held auctions last Thursday, Friday, Monday
& Tuesday. Auction prices were 7.42, 7.42,
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.