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EUA prices rise above € 8

Prices of EU carbon allowances (EUAs) for December delivery rose above € 8 on Friday with support from stronger German power.

The EUA futures contract for December 2012 delivery finished up 48 cents (6.2%) at € 8.22 on ICE Futures Europe in London, after touching € 8.25, the highest level since December 28.

The market opened lower at € 7.69, an intraday floor, but EUAs were rising for the rest of the day, tracking stronger German power prices which made gains on colder weather and lower wind power output. 

German 2013 baseload power trading on the European Energy Exchange (EEX) in Leipzig finished up 59 cents (1.1%) at € 52.40 per MWh.

Carbon moved higher for the fourth consecutive day after falling to € 6.99 on Monday and gained around 13% from last Friday’s close.

The CER futures contract for December 2012 delivery finished up 8 cents (2%) at € 4.03, leaving the EUA-CER spread at € 4.19.

On BlueNext in Paris, the EUA spot contract gained 48 cents (6.4%) to € 7.99.

Source: ICE Futures Europe, BlueNext, EEX, Reuters