CO2 Emissionshandel an der EEX Leipzig

Oh, Jungs die nächste Strompreiserhöhung wird fürchterlich...

gruss hans

Klimaschutz: Preis für Emissionsrechte steigt auf Rekordniveau

Von Holger Schmidt, Frankfurter Allgemeine Zeitung

(04.07.05) - Der Preis für Emissionsrechte (Zertifikate) ist an der Strombörse Leipzig auf mehr als 25 Euro je Tonne Kohlendioxyd geklettert. Das ist der höchste Wert seit Aufnahme des Handels im Rahmen des europäischen Emissionshandelssystems Anfang März, als der erste festgestellte Preis rund 10 Euro betrug. Ökonomen sind von dieser Entwicklung sehr überrascht. "Entgegen allen Erwartungen gehen die steigenden Energiepreise, die wir zur Zeit beobachten, mit höheren Zertifikatepreisen einher.

(Quelle und ausführlich weiter lesen: http://www.faz.net)

Politik attackiert Stromversorger

In der FTD wird mit Trittin der Bock zum Gärtner gemacht. ;-)

http://www.ftd.de/pw/de/13473.html

Politik attackiert Stromversorger

von Claus Hecking, Frankfurt, Birgit Marschall und Timm Krägenow, Berlin, Financial Times Deutschland

(07.07.05) - Die Energieversorger sind massiv in die Kritik der Politik geraten. Anlass sind die Preisexplosion für EU-Emissionsrechte und die dadurch ausgelöste Verteuerung des Stroms.

"Offenbar nutzen die Energieversorger jeden Vorwand, um die Verbraucher abzuzocken", sagte Bundesumweltminister Jürgen Trittin der FTD. Hessens CDU-Wirtschaftsminister Alois Rhiel sagte: "Wir dürfen uns nicht von einigen wenigen Großanbietern abhängig machen.

(Quelle und ausführlich weiter lesen: Financial Times Deutschland, http://www.ftd.de)

Thema: CO² - Kein Markt für jedermann?

pinky Am: 20.07.2005 19:41:31 Gelesen: 40

Als ich Anfang des Jahres davon hörte, dass an der Energiebörse in Leipzig (EEX) künftig CO²- Emissionsrechte gehandelt werden, glaubte ich im ersten Moment ehrlich gesagt an einen Witz. Aber warum eigentlich nicht? Schließlich gibt es im Kapitalismus bekanntlich für alles einen Markt. Mittlerweile bieten besonders findige Banken sogar schon Zertifikate an, mit denen man sowohl auf steigende als auch auf fallende Preise spekulieren kann. Doch Vorsicht! Der Handel mit Emissionsrechten ist sicher kein Markt für jedermann, weil die genaue Kursentwicklung sich nur sehr schwer prognostizieren lässt.

(Quelle und ausführlich weiter lesen: http://www.rohstoff-trader.de)

Strombörse EEX startet kontinuierlichen Handel mit Emissionsrechten

Leipzig - Die Leipziger Strombörse EEX hat den kontinuierlichen Handel mit CO2-Emissionsrechten nach eigenen Angaben erfolgreich gestartet. Allein in den ersten Handelsstunden am Donnerstag wechselten 22 000 Emissionsrechte den Besitzer, im Tagesverlauf waren es 38 450, teilte die EEX am Freitag mit. Die Auktion wird es auch weiterhin geben. Gerade in Zeiten grosser Preisschwankungen biete der fortlaufende Handel über den ganzen Tag flexible Möglichkeiten, sagte der Vorstandsvorsitzende Hans-Bernd Menzel.

Hingegen konzentriere die Auktion Volumina auf einen bestimmten Zeitpunkt. Die Börse biete nun beide Marktmodelle. Nach neuen EU- Regelungen müssen Unternehmen für ihren Kohlendioxidausstoss Emissionsrechte besitzen. Damit darf gehandelt werden. Die EEX arbeitet seit Jahresbeginn erstmals profitabel. Bei knapp zwei Millionen Euro in den ersten sechs Monaten des Jahres 2005 ist das Ergebnis vor Steuern und Zinsen (Ebit) erstmals positiv. Im ersten Halbjahr 2004 wurde noch ein Minus von 64 000 Euro verbucht.

dpa-Meldung, 05.08.2005

http://www.verivox.de/News/ArticleDetails.asp?aid=10650

gruss hans

August 5, 2005

Exchanges battle it out for CO2 volumes

(Montel Powernews) - The European carbon market has been hot this summer. Not only has volatility been high, but traded volumes have also been hitting new records in the summer months.

Following the slight slump in activity in May, trading picked up again in June and continued to do so in July. According to Point Carbon estimates, the volumes on the OTC market saw another all-time high of 21.3 million tonnes in July, up from 17.25m a month earlier.

From January to May, total volumes in the brokered market were estimated at about 54 million tonnes. “August is expected to be a bit slower again due to the holiday season in Europe,” Stian Reklev of Point Carbon told Montel Powernews.

ECX clearly no.1

The Amsterdam based ECX/IPE has emerged as the clear front runner in terms of exchange activity. The ECX saw its July volumes double month on month, as the pure exchange based trading climbed to 6.85 million tonnes and the EFP Transactions (cleared OTC) ran to some 4.2 million. “All the majors are members of the IPE, in addition the trading fees are very low,” a European CO2 market analyst commented the Amsterdam-based exchange’s strong position on the market.

The May slump in activity at Nord Pool seems to have passed as the volumes of exchange based trading continued to gain slightly again in July. Cleared OTC contracts at the Nordic exchange, however, halved in July compared to the month before.

“The rising volumes are a natural development on the market. Due to high volatility activity increases also. In July, a lot of barriers were broken in a few minutes and many had to close their positions,” comments Harald Herzig from Syneco Trading.

Though volumes on exchanges are on the rise, and are seemingly gaining a larger share of the fledgling European CO2 market, the position of the brokered market is not threatened. “As the market develops exchange trading volumes also rise, but I do not see exchange based trading overtaking position of the OTC market. But exchanges are important especially for small customers,” Herzig from Syneco Trading said.

Powernext leaps ahead of EEX, but for how long?

Of the exchanges offering spot products for the EU ETS, volumes traded on Powernext surpassed those of the EEX already in its second month of operations. The German exchange has been struggling with low volumes since it launched its CO2 auction in March this year. As of today, the EEX will broaden its trading in CO2 emission allowances by introducing continuous trading in a bid to gain more activity on its carbon platform.

The German exchange reported a traded volume of some 292,000 tonnes for July, against 317,000 a month earlier. In comparison, Powernext, which launched its spot market for carbon in late June, reported traded volumes of 676 000 tonnes in July.

“A complex and untransparent auction trading system,” was the answer of a European player when asked about why EEX trading volumes were already overtaken by its French rival. “Powernext has a combination of a simple system and is boosted by the presence of Spanish players. Traders like it easy,” he added.

Another market observer was of the same opinion regarding the spot auction system, but expected the EEX to gain the upper hand over Powernext in the long run due to the high number of major players active on the German bourse and the existing liquidity on the power contracts.

“The auction took place too early in the day and was very inconvenient. All other prices move during the day, it did not make sense. This [the launch of continuous spot trading] will be very important to the EEX. I would assume that the liquidity will pick up,” a European carbon market analyst told Montel Powernews.

“Once Eastern European companies become active, most of them will do spot trading as they have no credit lines. And I expect them to join the EEX,” the analyst added.

gruss hans

Emissionsrechte: CO2-Markt entspannt sich

Von Udo Rettberg, Handelsblatt

Handelsblatt (10.03.06) - Der Preis für Kohlendioxid-Emissionsrechte wird nach Ansicht von Experten in den kommenden Monaten sinken. Damit dürften auch die hohen Strompreise nachgeben, weil die Versorger ihren Kunden die Verschmutzungsrechte in Rechnung stellen. „Die Fundamentaldaten des Marktes werden sich in den nächsten Monaten deutlich ändern“, sagt der geschäftsführende Direktor des Finanzdienstleisters Natsource, Paul Vickers. Denn in den kommenden Monaten dürften zusätzliche Verschmutzungszertifikate auf den Markt kommen und den Nachfrageüberhang ausgleichen.

(Quelle und ausführlich weiter lesen: Handelsblatt, http://www.handelsblatt.com/pshb?fn=tt&sfn=go&id=1205515)

EU Emissions Trading: News & Information of the calendar week 17/2006

EU Allowances: EUA-Dec06 price drops from EUR 30 to EUR 15 - Emission reports lead to EUA price crash

On Friday 21st of April 2006 the carbon market opened at EUR 29.80, 15 Cent below last days' close (Dec06 contract). With a static energy complex delivering little guidance for the carbon market EUA prices traded in a narrow band throughout the day and closed nearly unchanged at EUR 29.75.

On Monday 24th of April the carbon market opened at EUR 30.30. Stronger German power markets (baseload Cal07 traded at EUR 60.10/MWh) supported the price for emissions certificates to trade at an intraday high of EUR 30.60. In the afternoon rumors about Durch installations emitting significantly less CO2 in the year 2005 than commonly expected, pressured the EUA price to close at EUR 29.85.

On Tuesday 25th of April the carbon market opened at EUR 29.40. When the Dutch ministry of environment confirmed that installations emitted some 6Mt less CO2 than they were allocated allowances, the EUA price dropped more than 10% and closed at EUR 27.30. The news was accompanied by a similar statement from the Czech ministry of environment, indicating that Czech installations emitted 15% less CO2 than they were allocated. The selling frenzy was initially started by Dutch installations with banks and funds joining in as soon as stop-loss levels were reached.

On Wednesday trading started at EUR 26.35. After the Belgium Walloon region, and in the afternoon France as well as Spain published extremely bearish emissions reports, the EUA price broke down and lost some 30% in one day. The closing price was EUR 20 just after reaching an intraday low of EUR 19.

Yesterday trading started at EUR 17. In an extremely nervous and directionless market the EUA price traded in a huge EUR 6 range (intraday low: EUR 14 - intraday high: EUR 20). Volumes were impressive with more than 20 Mt CO2 traded in only one day (mostly at a price between EUR 15 and EUR 17).

Today the market opened at EUR 15, EUR 1.60 below yesterdays close.

The last three days of trading saw the EUA price slip from EUR 30 to EUR 15. The crash was triggered by bearish emissions report data from the Netherlands, the Czech Republic, Belgium, France and Spain. According to estimates that have been published by various companies over the last months the European emissions trading market was expected to be some 60Mt short allowances. Now, when taking the emissions reports from the countries mentioned above into account and extrapolating on emissions especially from Germany, Italy, Poland and the UK, the companies under the EU ETS might be some 30Mt long. This puts a completely new tag on the price of emissions certificates of the current trading period, especially when taking into account that 2005-07 EUAs are not bankable and can therefore not be used for compliance in the second trading period (2008-12).

The EUA price crash

On the 25th of April the slide of the price of emissions certificates started with the market reacting to the Dutch government confirming that companies under the EU ETS emitted less CO2 than expected (this information leaked already last week, giving Dutch companies enough time to sell excess EUAs in a still "overvalued" market). The Dutch news combined with the news from the Czech Republic stating that Czech installations emitted 15% less than allocated in the year 2005, had the EUA price drop from EUR 30 to EUR 27.

On the next day some more bearish news from the southern region of Belgium (Walloon) pressured the price for emissions certificates even more to trade at EUR 24 until midday. When the French ministry of environment stated that companies emitted 11.6% less CO2 than allowed in 2005 the EUA price plummeted to EUR 20 and with the Spanish emissions data indicating a shortfall less than expected, the EUA price reached a 14 months low of EUR 14 (on ECX).
The details regarding the emissions reports having been published so far are as follows:

Czech companies covered by the EU ETS emitted some 83 Mt CO2 in the year 2005, 15% less than their allocation of emissions allowances
Dutch companies covered by the EU ETS emitted 80.4 Mt CO2 in the year 2005, 6.1 Mt less then they were allocated
Belgium companies of the Walloon region emitted some 22 Mt CO2 in the year 2005, 15% less than their allocation of emissions allowances
French companies covered by the EU ETS emitted some 142.8 Mt CO2 in the year 2005, 11.8% less than their allocation of emissions allowances
Spanish companies covered by the EU ETS emitted 182.9 Mt CO2 in the year 2005, (only) 10.9 Mt more then they were allocated
With some more emissions reports outstanding (especially Germany, Italy, Poland and the UK) the price for emissions allowances should stay extremely volatile, but even if the current downward trend can be stopped, it should be quite some time before we see carbon trading above EUR 30 again.
The recent price crash again documents how quick things can change in a young market. Climate Corporation's Emissions Trading Services assist companies affected by the EU ETS in selling or buying carbon credits. We provide companies with the means to efficiently manage allowance positions and secure investments in the carbon market.

http://www.climatecorp.com/

gruss hans

BLUUUUPPPPPPPPPP

@ he96 [#20]

Vermutlich bezieht sich Ihre Grafik auf die EEX. Hier zur Ergänzung ein Chart des an der IPE gehandelten CO2 Futures: