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