EU carbon prices rally to four-month high

EU carbon dioxide allowance prices rose to a four-month high in July, taking support from rising power prices and ongoing negotiations to agree the rules after 2020. Little concrete progress was made at negotiations on July 10 and the market awaits the next session on September 13.

Carbon prices continue to feel the effects of a huge surplus of allowances, including hefty supply from auctions in 2017 and 2018. But looming on the horizon, significant supply cuts are coming in January 2019 -– now less than 18 months away. S&P Global Platts senior writer for European carbon markets Frank Watson reports.

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