Trading carbon has its lows

5th April 2012

April has dawned with both clean energy share prices and European Union carbon credits languishing at, or near, multi-year lows. Investors are being left to wonder whether the rest of 2012 will reveal silver linings to these clouds.

On Monday, EU Allowances for December 2012 expiry fell to a record low of €6.14 per tonne of CO2, before edging back to €6.34, down 80 cents on the day. Climate Spectator

Market Summary as of 4.30pm 4th of April

STCs

STCs continued to climb yesterday while sellers watched eagerly to see if the price would break through the 29.00 threshold. 28.50, 28.75, 28.85 and 28.90 traded aggressively before lunch time, before it died down for the second part of the day

 ICAP Green Set for STCs & LGCs Wednesday, 4th of April 2012

STCs:28.98

LGCs: 39.70

A dailyreference price of STCs & LGCs based on live ICAP transactions and market prices posted between 10.10am and 10.15am each business day.

LRECs

LGC last traded @ 39.50

NGACs – Spot last trade @ $.85

GECs – Last spot trade @ 1.10  

ESCs–  Vintage 11s trade @ $30.50

Carbon & Energy

  • AGL Energy's bid to take full control of Australia's largest brown coal power station has hit a snag, with the competition watchdog suspending its clearance process pending further information. The Advertiser
  • THE federal government spent $68 million on advertising campaigns in the second half of 2011, including more than $16 million on promoting the carbon price, a new government report shows. AGE
  • Coal seam gas producer AGL Energy and Chinese coalminer Shenhua Group are among companies that have fallen foul of an NSW government audit of coal and petroleum exploration licences. AFR
  • Julia Gillard's Labor government can't succumb to the political temptation to reduce, let alone scrap, its unpopular carbon tax.AFR
  • Heavy polluters are set to call for the scrapping of the Gillard government's renewable energy target when it is reviewed later this year, claiming it is economically inefficient and environmentally ineffective.AFR