The European carbon emission market has made a new big price jump, and we could see the price on a CO2 quota break above 30 EUR/t in the near future.
After months of price drops, the European coal markets have found some sudden momentum. The price on a ton of coal has increased by almost 10 % during the last week.
During the next months, the European carbon emission market will trade around a 10-year high price level, according to experts.
July was the cheapest month on the Nordic spot market in almost two years. Improved hydrology and high wind power generation helped the average system price of the month drop below 30 EUR/MWh.
We experienced a clear change to the Nordic weather forecasts last week, and the rest of July now looks set to be very dry. This has caused Nordic energy prices to climb, especially in the short-term forward market.