Issue CCVI

Carbon Newsletter

DBLM Solutions
15 Oct 2015

United States
The EUA Dec14 contract is currently at 8.45.
The carbon price has risen above the narrow range
it has occupied for the last 6 weeks between 7.90
and 8.20. Expect further gains as short term
moving averages show good support. However, the
price is also likely to revisit the 8 mark over the
coming months.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

08/10/2015

8.13

0.62

8.12

0.61

09/10/2015

8.32

0.61

8.37

0.60

12/10/2015

8.32

0.61

8.30

0.60

13/10/2015

8.33

0.59

8.33

0.58

14/10/2015

8.46

0.58

8.45

0.58

Volumes lots

2,935

50

54,182

317

Week %

4.05%

-6.45%

4.06%

-4.91%

The EUA/CER spread widened this week to 7.88,

at close of business last night versus the 7.64
spread we witnessed last week and 7.54 the week
before.

Auctions
EEX held auctions last Thursday, Friday & Mon,
Tuesday & Wednesday. Auction prices were
8.11, 8.16, 8.26 & 8.30 respectively. The
cover ratios for the above auctions were 4.13, 3.93,
2.07 & 2.95 respectively. (Cover Ratio = Number
of bids/Auction Volume)

During the week the New York state Governor,

Andrew Cuomo stated that New York state would
look to join Californias (& Quebec) emission
trading scheme. Cuomo said today that New York
will reach out to the other members of the ninestate Regional Greenhouse Gas Initiative (RGGI)
in an effort to link their power sector-only cap-andtrade program with California and Quebec's
economy-wide carbon market. Ontario, which is
developing rules for a cap-and-trade program, plans
on joining California and Quebec as soon as 2017.
In terms of activity within the state, the governor
made a new commitment to bring solar to 150,000
more homes and businesses by 2020. He also
pledged to install renewable energy at each of the
State University of New Yorks 64 campuses by
the same year.

Global Climate talks

The EU and its member states must call for a 40%
cut in greenhouse gas emissions by 2030 and scale
up climate finance commitments at the COP21 UN
climate talks in Paris, Parliament said on
Wednesday. MEPs also say a share of revenues
from the EU's carbon market allowances should be
earmarked for climate finance, and the aviation and
shipping sectors should initiate measures to curb
their emissions by the end of 2016. MEPs say the
2015 Protocol should 1: be legally binding, 2:seek
to phase out global carbon emissions by 2050,
3:include five-year commitment periods in order to
avoid locking into low levels of ambition.

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.