Dear Ladies and Gentlemen,

The last trading week closed again with a significant surplus for emission allowances.

However, in the beginning of the week it did not look like that. The expected correction after the rapid rise in prices last week in combination with a big auction volume could have affected more burdensome, than it was indeed the case. After the price dropped good 30 Cents, the auction of British EUAs on the London ICE on Wednesday was the signal for a renewed backlash. On Friday, a peak of 4.69 EUR was recorded before profit taking in late trading relativized the gains again.

With regard to the implementation of the Paris climate agreement also some important, positive news were reported during the past week. From the United Nations headquarters in New York, the ratification of over 55 countries was announced on Wednesday. Thus, the first hurdle was taken towards the legal validity of the historic resolutions. On Thursday and Friday then the German Bundestag and the Bundesrat voted for the national ratification act. Once this is also signed by the President, it shall come into force in early October. This then puts also the second hurdle within grasp. The point is here, that the signatory countries must represent at least 55% of global emissions. If this goal would be reached bevor the next Climate Change Conference in November, the nations could start in Marrakech already with the concrete implementation of the Agreement.

(Average Quotes Exchange / OTC)
Instrument 2016-09-23 2016-09-16 Change
EUA (Spotmarket) 4.54 EUR 4.36 EUR +0.18 EUR
EUA (December-2015-Future) 4.54 EUR 4.36 EUR +0.18 EUR
CER (Spotmarket) 0.37 EUR 0.38 EUR -0.01 EUR
ICE Brent Crude Oil (Benchmark Future) 46.09 USD 45.98 USD +0.11 USD
EURO (Currency, Forex) 1.1230 USD 1.1156 USD -0.0074 USD

(The average exchange quotes and OTC-prices shows the average between bids and ask of several exchanges and OTC markets for carbon emission rights in the ETS. Bid and ask have usually in Spot Market a visible spread. CER CP1 and ERU are eligible in ETS until end of March 2015 and must be swapped into EUA. Crude Oil and Euro Currency shows day-end-exchange quotes. These market information has just an informational character and are no advice or offer to trade carbon emission rights or their futures and options. If you want to unsubscribe, please reply to this mail.)

Please call our international carbon desk if any further questions exist: +49.2831.1348220 or +44.20.79790283.

With kind regards,

Advantag Brokerage GmbH

Advantag AG published this content on 26 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 September 2016 11:35:06 UTC.

Original documenthttp://www.advantag.de/news/emissions-trading-carbon-market-news-2016-09-26-p2634/?lang=en

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