Overview

The final week before the surrendering deadline saw the market retract some of the September gains. Having spent the previous week in the high €70s, last week quickly dropped to the mid-€70s. However, after the sellers failed to bring the market below the €75 level during Friday morning, Friday afternoon’s market looked invigorated and closed the week just below the €76 mark. Today, the 30th of September, is the deadline to surrender the EUAs, meaning the market movements from now on will not be dependent on compliance buying for 2024. As this is the first year in ETS history where the surrender deadline is in September, the market will spend the rest of the year on unchartered waters.