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Luciano Magliocco +353 87 9051928 (Mobile) dblmluc (SKYPE) luc@dblmsolutions.com

DBLM Solutions Carbon Update

Carbon Overview

David Boles 01 4433584 (Direct) dblmdavid (SKYPE) david@dblmsolutions.com

At time of writing the Dec '13 EUA Contract was at 4.68, after hitting a high of 493.50 in the first hour of the session yesterday morning. Analysts believe that the bullish sentiment is supported by a stronger energy complex and speculative buyers going long carbon. Strong demand for auctions is also a factor. ICE held their fortnightly auction this morning, clearing 4,134,000 EUA's at 4.68 each. Yesterday, EU commission completed the adoption procedure for annual GHG limits on non- ETS sectors for phase 3. This will implement the effort sharing Decision by laying down annual emission allocations (AEAs ) for each member state from 2013 2020. The sectors covered by the Effort Sharing Decision include transport (except aviation), buildings, agriculture (excluding forestry) and waste. The proposal is adopted as submitted to the European Parliament and Council, without any amendment. The Decision will enter into force following its notification to Member States and will be published for information in the Official Journal of the European Union. The European Commission today took the first step towards developing a 2030 framework for EU climate change and energy policies. Its Green Paper launches a public consultation on the content of the 2030 framework.
Dec 13 EUA

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