EU ETS prices rise on high coal burn, low auctions
Prices in the EU’s emissions trading scheme hit an all-time high last week after an August rally on reduced volumes and an increase in coal burn
Prices in the EU emissions trading scheme (ETS) reached an all-time high last week as high gas prices led to increased coal burn and auction volumes were reduced in August. Prices reached €99.17/t CO₂ ($98.34/t CO₂) on Friday—the highest level ever in the scheme—before falling back to €90/t CO₂ this week. Ongoing high gas and electricity prices due to reduced gas supply from Russia have made coal-fired power more economic, with many utilities saying that they will have to burn more coal in the short term to meet electricity demand. German utility RWE last month reported a 14pc rise in power generated from lignite last month in its first half results. Coal combustion emits almost twice as muc
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