Bogdan Tudorache

The price of the carbon certificate (EUA) on the ICE ECX exchange in London opened on Tuesday morning, February 9, the EUA trading sessions at 38.10 euro/tCO2, according to Carbonexpert.

Subsequently, the price reached a new all-time high of 38.31 euro, the medium-term contracts having a reference price of 39 euro, according to ICE data consulted by energynomics.ro. The annualized growth rate, compared to February of the previous year, is of about 65% (on February 10, 2020, the average price was 23.23 euro).

Later on Tuesday, the average price fell below 38 euro/tCO2.

Analysts attribute the fall in the price to the fact that ICE has announced that it will relocate the trading of EU ETS carbon certificates from London to the Netherlands in the second quarter of this year, due to the limitations imposed by Brexit.

“The EUA price continued to rise on the first day of this week, 08.02.2021, reaching the record since the establishment of the EU ETS, with the price of 39.80 euro/tCO2, supported by rising energy prices, caused by weather conditions and negative temperatures in some parts of Europe, as well as the announcements of various economic analysts regarding new gains for this week,” said the Carbonexpert analysts.

The EUA price could rise to 40 euro at the end of the first quarter of this year (Q1), according to specialists’ estimates.