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Market Research Report
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1006803

UK ETS Allowance Auction Result: First-Day Nerves or a Bright New Dawn?

Published: | Wood Mackenzie - Power & Renewables | Delivery time: 1-2 business days

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UK ETS Allowance Auction Result: First-Day Nerves or a Bright New Dawn?
Published: May 20, 2021
Wood Mackenzie - Power & Renewables
Delivery time: 1-2 business days
  • Description
  • Table of Contents

Report Summary:

The UK Emissions Trading Scheme (UK ETS) came into being on 1st January 2021 as the United Kingdom completed its withdrawal from the EU. In many respects, the new market is a mirror of the existing EU ETS. On the 19th of May, the first bi-weekly auction of UK allowances took place, selling just over 6 million allowances at a settlement price of £43.99/tCO2 (€51.2). What can be taken for the initial UK ETS outcome?

Table of Contents

  • Like the EU ETS, but different (and separate...)
  • EU carbon costs have been surging
  • What can be taken from the initial UK ETS outcome?
  • Our verdict on the first UK ETS allowance auction
  • Looking to the future: better together or always apart?

Table of Contents

  • Like the EU ETS, but different (and separate...)
  • EU carbon costs have been surging
  • What can be taken from the initial UK ETS outcome?
  • Our verdict on the first UK ETS allowance auction
  • Looking to the future: better together or always apart?