What to expect on 17 July?

In the Veyt client-only webinar 2 July we discussed what to expect from the European Commission’s EU ETS Directive review proposal, scheduled for 17 July. Our expectations are fundamentally bearish EUAs compared to current regulatory framework – but likely not far off market expectations. Interaction between TNAC re-basing, MSR parameters (upper threshold + intake rate and release function) and LRF will be key price drivers.