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8. April, 2024

Market Stability Reserve to address drop in 2023 emissions and first RePowerEU volumes

European Carbon
Ingvild Sørhus

The official number of oversupply of emission allowances (EUAs) in the EU ETS continues to shrink despite the sharp demand drop in 2023 (CO2 output dropped 16% according to the verified emission data revealed on 3 April). For the upcoming period from September 2024 to August 2025, the market stability reserve is expected to withhold 266 Mt compared to 273 Mt in the same period 2023-2024. This year’s total number of allowances in circulation reflects the 2023 emission drop and the first injected REPowerEU volumes.

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The official oversupply number or total number of allowances in circulation (TNAC) is released annually by the European Commission by 1 June. Based on the 2023 verified emissions released last week we estimate the 2024 TNAC to be around 1.1 billion EUAs. T…

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Carbon
EU ETS1, EU ETS2, North American Carbon, GCC
Carbon
EU ETS1, EU ETS2, North American Carbon, GCC
Fuels
Biomethane, Transport fuels
Fuels
Biomethane, Transport fuels
Power Purchase
Agreements (PPAs)
Asset valuation, Deal flow, Market prices
Power Purchase
Agreements (PPAs)
Asset valuation, Deal flow, Market prices
Energy Attribute Certificates (EAC)
GOs, REGOs, Global Certificates
Energy Attribute Certificates (EAC)
GOs, REGOs, Global Certificates

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