In This Newsletter
1. EU ETS Weekly Commentary
2. UK ETS Weekly Commentary
3. CCA Weekly Commentary
4. RGGI Weekly Commentary
5. WCA Commentary
6. Daily Price Change
7. Upcoming Webinars
8. Latest Insights

• Cuts in net short position of Investment Firms and Funds sends a bullish signal to the EUA market. Meanwhile, commercial undertakings displayed heightened buying interest, aligning with the ongoing bullish trend.
• ESMA – As per the latest data from 26th April, EUA futures’ net long positions recorded a rise of 23.64%, to reach 78.68 M, and 6.55%, to reach 627.80 M, at EEX and ICE Endex respectively.
• The EUA weekly average benchmark price saw a 3.71% rise amid increased interest among buyers.
• G7 sets ambitious climate targets, including phasing out unabated coal power generation and decarbonizing power systems by 2035.
• Germany notifies EU of voluntary cancellation of allowances for closed plants, totalling 12.25 MtCO2.

• UKA weekly average benchmark fell marginally by 0.38% WoW.
• UKA open interest continues upward trend at ICE Futures Europe increasing by 9% from 43.18 M to 47.06 M between 19th-26th April amid increased buying before the 30th April compliance deadline.
• UK accelerates grid connection for 7.8 GW green capacity with over 200 clean energy projects.

• CCA prices rise to $38.08 WoW after a short price fall through the week.
• Exchange volumes fall by 17.51% WoW as market seems tentative to trade.
• Compliance entities extremely bearish on CCAs while managed money goes slightly longer.
• Open Interest (OI) falls by 2.84% WoW.
• Department of Energy announces funding for carbon storage and transport projects.

• RGA prices reach all-time high of $21.72, close at $20.72.
• Ambiguity around Third Program Review drives sell-off in compliance entities.
• Compliance entities cut down net long positions by 71.46% while managed money increases net long positions by 56.14%.
• Open Interest reduces by 24.34% due to large sell-off.
• RGGI emissions up 7.37% YoY in Q1 2024.

• WCAs market in Washington saw a 2.10% price increase this week, closing at $36.50, with trading volumes reaching 0.389 M tons.
• Washington to conduct its 6th Auction on June 5th, offering 7.8 M allowances for the current auction and 2.2 M for the advanced auction.
• Bearish sentiment continues to dominate the market, reflected by the prevalence of net short positions in both compliance and managed money positions.

On Friday, there was a increase of $0.10 in CCA prices, decrease of $1 in RGGI prices, and no change in LCFS prices.

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