Issue CLXXXII

Carbon Newsletter

DBLM Solutions
30 Apr 2015

The EUA Dec14 contract is currently at 7.60.

Yesterday, news emerged that European member
states agreed to a MSR start date of Jan 1 2019.
Poland seems to have lost one of their chief allies
as the Czech Republic reversed their position to
support the above start date. Analysts believe that
this will be bullish on carbon prices and predicted a
10 EUA price by the end of this year. The deal, to
be confirmed means that talks with the European
Commission and Parliament to agree a legal text
should go ahead as scheduled on May 5.
Weekly
Recap

ICE
EUA
Spot

ICE CER
Spot

ICE
EUA
Dec15

ICE CER
Dec15

23/04/2014

7.26

0.51

7.28

0.51

24/04/2014

7.34

0.51

7.33

0.51

27/04/2014

7.31

0.51

7.36

0.50

28/04/2014

7.33

0.50

7.38

0.49

29/04/2014

7.47

0.50

7.48

0.50

Volumes lots

5,666

103

192,665

567

Week %

2.89%

-1.96%

2.74%

-1.96%

The EUA/CER spread widened this week to 6.97,

at close of business last night versus the 6.29
spread we witnessed last week and 6.29 the week
before.

Auctions
EEX held auctions last Thursday, Friday, Monday
& Tuesday . Auction prices were 7.06, 7.27,

7.33 & 7.16 respectively. The cover ratios for the

above auctions were 3.30, 2.61, 1.75 & 2.07
respectively. (Cover ratio = no. of bids divided by
auctioned allowances.

Californian ETS Expansion

On Monday, Canadian province, Ontario
announced that they will join Californias Emission
Trading scheme. As Ontario, is Canadas most
populous state it will greatly expand the size of the
Californian cap and trade that was set up in 2012,
following in the footsteps of Quebec which joined
last year.

Impact Investment. GSF1`

GSF1 has secured a land bank in South Africa
Long term lease area exceeds 200,000 ha (2,000 km). The land
will be developed to generate income underpinned by
international sales of biomass fuels
40% of profit dedicated to social development
Benefits of this unique impact investment
- Creates a positive carbon capture impact
- Land used to produce sustainable energy & food
- Generates local employment and development
- Creates and supports natural biodiversity pools
- Restores natural areas and creates eco-tourism
Key Differentiators
- Investment Grade Country with key Security issues
underpinned by very strong Local Community Support
- Very Low Cost of Production and Abundance of
raw materials base ensures significant pricing and competitive
advantages
-Meets growing demands for Sustainable Biomass.
- IRENA forecast the doubling of biomass demand between 2010
and 2030.
Expected Exit Route for Investors through IPO.
Designed to enable market sales in 5 7 years.

The contents of the Newsletter is not a recommendation, either implicit or explicit, to buy or sell emission permits.
Contact: David Boles, Compliance Markets -Direct: +3531 4433 584; Mob:00353 831747707
DBLM Solutions is partly funded by the Wicklow Enterprise Board.