EMISSIONS: EU End-Of-Day Carbon Summary: EUAs Rangebound, UKAs Rise

EUAs Dec25 are rangebound on stable fundamentals, while UKAs Dec25 are rising on heightened bullish sentiments. The latest CoT report showed funds raising bullish bets on both contracts to an all-time high and four-week high respectively.

• EUA DEC 25 down 0.06% at 81.77 EUR/t CO2e
• UKA DEC 25 up 0.68% at 56.52 GBP/t CO2e
• TTF Gas JAN 26 up 0.5% at 28.19 EUR/MWh
• NBP Gas JAN 26 down 0.2% at 73.2 GBp/therm
• Estoxx 50 up 0.1% at 5692.6
• EUA POSITIONING – Investment funds sharply increased net long positions in EU ETS futures on the ICE exchange to a new record high, according to the latest CoT data as of 28 November.
• UKA POSITIONING – Investment funds raise their net long positions in UK ETS futures on the ICE exchange as of 28 November to a four-week high, according to the latest COT data.
• TTF front month is slightly higher as the market monitors limited signs of progress towards a Ukraine peace deal and digests EU plans to phase out Russian gas imports.
• EU Commission sets to publish the adjustments to the 2026 EU ETS cap in its latest Carbon Market Report within 48 hours, according to its press release.
• EU ETS free allocation benchmark for 2026-2030 is set to be released in early 2026, and is expected to drive prices in either direction between 2025-2035, BNEF said.
• IETA urges the EU ETS indirect cost compensation to remain until the European electricity grid mix is decarbonised and fossil-based power no longer sets electricity prices, it said.
• Czech and Slovak leaders have agreed not to implement EU ETS 2, Czech Chamber of Deputies Speaker Tomio Okamura said after a Czech-Slovak-Austrian meeting, reported by Radio Prague International.
• Five Dutch CO2 transport and storage projects aim to move and store up to 35mn tCO2e annually by 2030 in the Dutch North Sea, according to Clear Blue Market.
• Cornwall Insight said 48% of 103 survey respondents identified grid and storage as the main barriers for the UK to meet its 2030 clean power target and achieve net-zero by 2050.