There is much interest in the timing for the upcoming sale of EUAs to help finance Europe’s transition away from Russian fossil fuels. The latest signals from the European Commission suggest that the REPowerEU sale will start in July 2023, with volumes frontloaded from the member states’ auction reserves, totalling 16.5 million allowances. Bringing forth the remaining volumes, sourced from the Innovation Fund, will require some legal preparation, but that also might be concluded within roughly the same timeframe. This could imply an add-on to 2023 auctions of up to 25 million allowances.
Introduction As part of Europe’s response to the Russian invasion of Ukraine, REPowerEU aims to veer the continent away from Russian fossil fuels by ramping up renewable energy and by securing alternative supply for fuels. The lion’s share of funding for …
A weekly cap of what moved EUA prices and a clear view of the week ahead. We set out the drivers, their directional impact, and what matters next.
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