Grey Epoch on LinkedIn: #energy #energyrisk #ukets #euets (2024)

In May, according to Bloomberg, several factors influenced the rise in the EU’s carbon price:1️⃣ Rising Gas Prices: The increase in gas prices contributed to the upward movement of the carbon price.2️⃣ Industrial Activity: There was a slight uptick in industrial activity, although it started from a low baseline.3️⃣ Power Sector Emissions: Emissions from the power sector decreased due to warmer temperatures.4️⃣ Financial Market Movements: Financial institutions reduced their short positions, anticipating a rise in the carbon price.Reach out to Grey Epoch to learn more about the EU ETS.#emissiions #euets #euas #carbonmarket

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The European Commission reported that the total number of allowances in circulation (TNAC) for the European carbon market was 1,111,736,535 in 2023.The TNAC is crucial for the Market Stability Reserve (MSR) of the EU Emissions Trading System (ETS), affecting the addition or removal of allowances.Following the ‘Fit for 55’ legislative package and the REPowerEU Regulation, if TNAC exceeds 1.096 billion, 24% of allowances are moved to the MSR. Consequently, 266,816,768 allowances will be added to the MSR from September 2024 to August 2025. Any MSR allowances above 400 million became invalid on January 1, 2024, totaling 381,744,844. Additionally, 27 million allowances were allocated to the Innovation Fund.The next TNAC report is due on June 1, 2025.Reach out to Grey Epoch to learn more about the EU ETS#emissions #EUETS #emissionauction #carbonmarket #etsmarketstabilityreserve

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Last week began with a high of €77.00 on Monday, which also saw the lowest trading volume at 7.1k, possibly due to a UK bank holiday. The average daily volume is around 20k. Futures fluctuated within a 4-euro range throughout the week, hitting a low of €72.95 mid-week. As usual, December 2024 contracts were the most liquid, while December 2025 saw minimal trading activity. The week ended at €74.10, marking a €1.51 decrease from the previous week.European gas markets eased towards the end of last week with the focus on ample inventories, despite concerns over Austria’s Russian gas imports. Over the weekend, Norwegian outages occurred, with Norway’s Nyhamna production plant reported as unavailable by network operator Gassco AS. This results in this week opening with a strong up move across the EU Energy complex and Asian LNG topping 13USD/MMbtu.Reach out to Grey Epoch to learn more about the EU ETS#EUETS #emissions #carbonmarket #EUAs

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Next week, Emilio Fontana, our Head of Business Development at Grey Epoch Europe, will be attending Posidonia 2024 in Greece!As a company committed to supporting the shipping sector, we're proud to announce that Grey Epoch has been awarded the Energy Risk Awards - Liquidity Provider of the Year for the second consecutive year due to our unwavering support and commitment to the maritime sector and our partners.We are thrilled to be part of this global gathering, and Emilio will be there to engage with industry experts, explore new opportunities, and discuss how we can further assist shipping companies in meeting their environmental compliance goals.If you're attending Posidonia 2024, don't miss the chance to connect with Emilio Fontana.#Posidonia2024 #ShippingIndustry #EmissionsTrading #Compliance #Sustainability #Maritime #GreyEpoch

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Our success in the Energy Risk Awards 2024 can be attributed to dedicating significant resources to explaining the latest developments in the ETS and developing bespoke risk management solutions to ETS compliance buyers.We offered more competitive prices, individualised solutions and personalised attention compared to traditional providers.Reach out to Grey Epoch to learn more about the EU ETS.#EnergyRisk #CarbonMarket #ETS

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Another bullish week saw EUAs rise to over €78, a level not seen since the start of the year.The week was characterised by large and sudden moves, likely resulting from traders (temporarily) unwinding their short positions.We shot up over €2.50 within an hour of the market opening on Monday. The increase extended to almost €75 by the end of the day. Tuesday saw a similar trajectory with large up moves in a short amount of time. Although the market moves on Wednesday and Thursday were less pronounced, we did see a €2 price range on both days, with a peak price €78.10 on Thursday. After reaching the high, we gave away some of the gains to settle at €75.61 on Friday, a strong 6.8% rise w/w. Other European energy markets moved in a similar direction, with gas surging to their highest levels since January as well, driven by a rise in cooling demand and intensified competition for LNG cargoes from Asia.Concurrently, LNG prices in Asia have reached their highest point since late December, spurred by increased summer purchasing activity.Reach out to Grey Epoch to learn more about the EU ETS.#EUAs #EUETS #CarbonMarket #Emissions

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The UK Emissions Trading Scheme (ETS) Authority has launched two new consultations.The first focuses on expanding the UK ETS to include the energy from waste and waste incineration sectors by 2028, with a monitoring phase starting in 2026.The second explores integrating engineered greenhouse gas removals, like direct air carbon capture, and potentially high-quality nature-based removals into the scheme.These consultations aim to drive investment in decarbonisation and build a carbon removals market. Further consultations will address expanding the ETS to the domestic maritime sector and recognising non-pipeline CO2 storage methods.Reach out to Grey Epoch to learn more about the UK ETS.#UKETS #Decarbonisation #CarbonTrading

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Well done to everyone involved!

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Last week, the EU ETS market began with a low of €68.70, reached a mid-week high of €71.85, and ultimately settled at €70.69, marking a decrease of €1.22 from the previous week.The week concluded with stronger closes in both gas and power markets, driven by gas outages from Norway and LNG supply risks in Asia and Australia. On the weather front, forecasts indicate that temperatures in Northwestern and Central Europe will remain above normal for the next two weeks, although given the time of year, this by itself is unlikely to be a key driver for the energy complex.Reach out to Grey Epoch to learn more about the EU ETS.#EUETS #CarbonMarket #Emissions

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We are delighted to announce that Grey Epoch won Liquidity Provider of the Year in the 2024 Energy Risk Awards.This acknowledgement demonstrates our commitment to excellence in providing quality services in the EU and UK ETS, in particular, contributingto the shipping industry.Read more about Grey Epoch written by Risk.net here: https://lnkd.in/erwkxdbN#Energy #CarbonMarkets#EUETS

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