28 July 2021

Market Price Assessment – PPA , GPA and Carbon Markets 28th July 2021

Carbon Markets :

  • UK Allowances (UKAs) were down early in the week with a widening of the discount to EUA (European Carbon) price.
  • Liquidity is improving with increased UKAs trading on a forward basis.
  • This week sees the 6th UKA auction before the August volume reductions.

Gas and Power :

  •  Gas and power markets continued to test the upside and make some new highs.
  • Russian flows via the Ukraine were down again.
  • Oil pricing and US gas pricing is providing further support to an already bullish LNG market.