Issue CCVII

Carbon Newsletter

DBLM Solutions
22 Oct 2015

The EUA Dec14 contract is currently at 8.45.

The EUA forward curve has heigthened over the
last weeks. The EUA Dec20 contract broke the 9
mark for the first time in two years.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

15/10/2015

8.43

0.58

8.44

0.58

16/10/2015

8.36

0.59

8.40

0.59

19/10/2015

8.35

0.59

8.35

0.59

20/10/2015

8.44

0.59

8.48

0.58

21/10/2015

8.44

0.59

8.44

0.59

Volumes lots

3,532

171

81,153

181

Week %

0.11%

1.72%

1.72%

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
8.46, 8.37, 8.35 & 8.32 respectively. The
cover ratios for the above auctions were 2.36, 3.77,
3.80 & 3.15 respectively. (Cover Ratio = Number
of bids/Auction Volume)

EU
The European Union is on track towards meeting
and overachieving its 2020 target for reducing

greenhouse emissions by 20%, according to a

report published today by the European
Environment Agency (EEA).
The "Trends and projections in Europe 2015"
report reveals that greenhouse gas emissions in
Europe decreased by 23% between 1990 and 2014
and reached the lowest levels on record. The
"Trends and projections in Europe 2015" report
reveals that greenhouse gas emissions in Europe
decreased by 23% between 1990 and 2014 and
reached the lowest levels on record.
Latest projections by Member States show that the
EU is heading for a 24% reduction by 2020 with
current measures in place, and a 25% reduction
with additional measures already being planned in
Member States. The EU is already working
towards its 2030 goal of an emissions reduction
target of at least 40% the EU's contribution
towards the new global climate change agreement
in Paris in December.

Price on Carbon
On Monday, the World Bank announced a highlevel group, the Carbon Pricing Panel, which brings
together heads of state, local leaders, and business
executives. The luminaries, including German
Chancellor Angela Merkel, Philippines President
Benigno Aquino III, and California Gov. Jerry
Brown, are calling on policymakers and negotiators
to use carbon pricing mechanisms, setting the stage
for strengthening emissions reduction plans
expected at the United Nations conference in
December.

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.