Headlines on summit deals drive UKAs higher

UK Allowances (UKAs) moved on a series of media reports ahead of the 20 November EU-UK reset summit. Rapporteur, a Brussels-based news outlet, described a draft summit text covering tuition fees, UK participation in Erasmus+, cooperation on countering hybrid and cyber threats, and an EU-UK linking deal, whilst the Guardian reported on 3 November that negotiations on the agri-food deal have been completed.

The update sets out how UKA prices responded, Veyt’s view of the summit files and the timeline for fungibility between European Union Allowances (EUAs) and UKAs, and what is required for a Carbon Border Adjustment Mechanism exemption for UK goods, including the treatment of 2026 imports.