Issue CCXXI

Carbon Newsletter

DBLM Solutions
19 Nov 2015

The EUA Dec14 contract is currently at 8.57.

Technicals show a bullish carbon market with first
support at 8.53, followed by support at 8.48.
First resistance is at 8.61, with second resistance
at 8.64.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

12/11/2015

8.38

0.65

8.40

0.63

13/11/2015

8.40

0.68

8.40

0.65

16/11/2015

8.44

0.66

8.53

0.65

17/11/2015

8.61

0.66

8.61

0.66

18/11/2015

8.58

0.69

8.57

0.69

Volumes lots

2,375

535

39,137

261

Week %

2.38%

6.15%

2.02%

9.52%

The EUA/CER spread increased this week at 7.89,

at close of business last night versus the 7.76
spread we witnessed last week and 7.76 the week
before.

Auctions
EEX held auctions last Thursday, Friday & Mon,
Tuesday & Wednesday. Auction prices were
8.36, 8.34, 8.43, 8.49 & 8.51 respectively.
The cover ratios for the above auctions were 2.87,
2.41, 2.94, 2.73 & 2.81 respectively. (Cover Ratio
= Number of bids/Auction Volume)

The Energy Union

The State of the Energy Union Report, published
today for the first time, shows that much progress
has already been made since the adoption of the
Energy Union Framework Strategy nine months
ago. Still much remains to be done, and 2016 will
be an important year of delivery.
The Energy Union Framework Strategy created a
new momentum to bring about the transition to a
low-carbon, secure and competitive economy. The
Commission has also committed to report annually
on the state of the Energy Union in order to address
the key issues and steer the policy debate.
On climate change, the State of the Energy Union
highlights Europe's contribution to the Paris
negotiations. At this stage, more than 160 countries
representing more than 90% of global emissions
have presented their contributions to the Paris
Agreement.
The EU submitted in this process a binding
domestic economy-wide emissions reduction target
of at least 40% by 2030 compared to 1990 levels.
After the Paris conference, it will be important that
all countries follow up with concrete
implementation of their commitments. The Climate
action progress report published alongside the State
of the Energy Union shows that the EU has been
particularly successful in decoupling economic
growth and greenhouse gas emissions: between
1990 and 2014, the EU's GDP grew by 46% while
total greenhouse gas emissions decreased by 23%.

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.