EMISSIONS: EUAs Drop On EU Gas, Equities Losses

EUAs Dec25 are declining amid EU gas and equity losses, as European gas and equity-index futures plunged following President Donald Trump’s announcement of a 20% tariff on EU exports to the US and minimum 10% tariff on global, triggering a global market selloff.

• EUA DEC 25 down 2.16% at 67.07 EUR/t CO2e
• EUA Daily Futures down 1.9% at 65.93 EUR/t CO2e
• TTF Gas MAY 25 down 2.6% at 40.175 EUR/MWh
• German Spark Spreads M1 down 2.2% at -28.69 EUR/MWh
• Rotterdam Coal MAY 25 down 2.2% at 103.65 USD/MT
• Estoxx 50 down 1.8% at 5143
• ICE EUA futures daily aggregate traded volume at 30,529 contracts in the previous day, down 23.42% compared with the 30-day average daily volume.
• Correlation between EUA/TTF for 30-day period remained hight at 0.61.
• Auction calendar for the day: The next EU EUA CAP3 auction will clear at 11:00CET. The previous EU auction cleared at 66.71 EUR/T at a 1.55 cover ratio.
• CWE wind is forecast to be the lowest next week on 8 April at a 10% load factor.
• The latest month-ahead ECMWF weather forecast for NW Europe suggested mean temperatures has been revised up between 4-25 April and is seen below average for most days from 5 April.