Record hunt continues: CO2 price cracks 70 euro mark

Die CO2-Prices cracked the 70 euro mark on Monday. According to data from the EEX energy exchange, the certificates in European emissions trading cost 70.70 euros per ton on Monday afternoon.

The CO2-Prices have more than doubled since the beginning of the year.

Glasgow resolutions bring momentum

The resolutions of the World Climate Conference in Glasgow, which were largely rated positively by market participants, brought momentum in the past few days. In addition, gas prices averaging more than 90 euros per MWh at the TTF trading point had a bullish effect.

In Germany, the renewables contribution in November was so far slightly below the previous year’s result.

Coal cheaper than gas

Even in the spring, the CO fueled a sharp rise2-Prices for switching fuel away from coal to more environmentally friendly natural gas. This time, however, falling coal prices in comparison to the record-high gas prices seem to dampen this effect.

Last week, a ton of hard coal for the ARA delivery area cost 137 US dollars in the month ahead, almost a third less than just a month ago. (There are more figures here in the ZfK data room.) With a view to the indicators clean dark spread and clean spark spread, it is currently more economically attractive to generate electricity from coal instead of gas.

Direction 75 to 80 euros?

A situation that could continue for the next two years, as SEB market analyst Bjarne Schieldrop writes in his latest report. But that would also mean that the need for CO2Certificates would remain high, which in turn would reduce the CO2-Price rally fueled.

This is one of the reasons why Schieldrop assumes that the CO2-Prices could move towards 75 to 80 euros per ton before Christmas. (aba)

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