EMISSIONS: EUAs Rise On EU Gas, Equities Gains

EUAs Dec25 are trending upward for the third consecutive session, tracking rebounds in EU gas and equity markets. Meanwhile, low wind generation forecasts are also providing support. 

• EUA DEC 25 up 1.14% at 65.56 EUR/t CO2e
• EUA Daily Futures up 1.1% at 64.4 EUR/t CO2e
• TTF Gas MAY 25 up 2.1% at 34.155 EUR/MWh
• German Spark Spreads M1 up 4.6% at -18.05 EUR/MWh
• Rotterdam Coal MAY 25 down 0.1% at 100.55 USD/MT
• Estoxx 50 up 2.4% at 4837
• ICE EUA futures daily aggregate traded volume at 50,220 contracts in the previous day, up 9.80% compared with the 30-day average daily volume.
• Correlation between EUA/TTF for 30-day period remained high at 0.58.
• Auction calendar for the day: The next Germany EUA CAP3 auction will clear at 11:00CET. The previous Germany auction cleared at 63.8 EUR/T at a 1.94 cover ratio.
• CWE wind is forecast to be the lowest this week on 18 April at just an 8% load factor.
• CWE Solar is forecast to be relatively stable over the next seven days, ranging between 10-11% load factors.
• The latest month-ahead ECMWF weather forecast for NW Europe suggested mean temperatures is seen revised down between 16 April and 10 May and below average for most days from 23 April.