EMISSIONS: EU Mid-Day Carbon Summary: EUAs/UKAs Track Weekly Losses

{EUEUAs and UKAs Dec25 are on track for weekly losses of over 4% and 6% respectively, nearing one- and two-month lows, as bearish sentiment driven by weaker TTF prices and increased short activities weighs on both carbon market, without a clear fundamental shift in carbon.

• EUA DEC 25 up 0.92% at 71.05 EUR/t CO2e
• UKA DEC 25 up 0.61% at 47.94 GBP/t CO2e
• TTF Gas JUL 25 down 2.1% at 33.325 EUR/MWh
• NBP Gas JUL 25 down 2.2% at 77.42 GBp/therm
• Estoxx 50 up 1% at 5249.52
• FTSE 100 JUN 25 up 0.5% at 8830
• TTF front month is extending its downward trend to the lowest since early May after the EU this week agreed to give member states more flexibility with their gas storage targets and amid healthy injections in recent days.
• The latest Germany ETS CAP3 auction cleared at €69.4/ton CO2e, down 3.57% compared with the previous Germany auction at €71.97/ton CO2e according to EEX.
• EUA Auction Calendar Week Ahead (Calendar Week 27) - A total of 11.3mn EUAs will be auctioned next week, with four auction sessions will be held. The latest Germany ETS CAP3 auction cleared at €69.4/ton CO2e, down 3.57% w/w and hitting the lowest level since early May, remaining below both the 10 and 50-day moving averages and trending down toward the 100-day moving average.
• Global energy demand rose by 2% to a record high in 2024 and CO2 emissions from energy rose by 1%, marking a fourth consecutive year of record emissions, despite unprecedented renewable growth, Energy Institute said.