Overview

The carbon market turned softer in the last days before the surrendering deadline compared to the week before. EUAs still traded in mid-high €70s, however, which until September, apart from a couple of days in June, is a level not seen since mid-February. Thankfully, for late compliance buyers, the last days of September stayed below €77 for EUAs while the end of last week saw market levels not seen since the 17th of February. Renewed Russian attacks on Ukraine’s energy infrastructure and Lithunaia’s call to end Russian gas imports did reintroduce geopolitical risk. For the rest of Europe, gas storage stands at 82.75% and is looking to keep supply conditions stable ahead of the winter.