The price of CO ₂ , at historic highs: about to reach 70 euros per ton

If the energy markets did not have enough with those experienced with gas, now facing the end of the year, the one who wants to take center stage again is CO ₂ .

Carbon emissions rights in the European Union are trading at all-time highs. An avalanche of buyers of rights due in December is taking place, at the last minute, which has taken the price of CO ₂ to 68.68 euros per ton, which represents a new historical maximum in the price.

It seemed that the ceiling had already been reached in October when 65 euros were reached, but no. Now the CO ₂ climbs directly towards 70 euros per ton.

Just one year ago, the price stood at €27.33/t. In other words, the price has more than doubled in just one year.

To get an idea, this price represents approximately 27-28 euros/MWh in the price of electricity in wholesale markets.

Without a doubt, the market has become the object of speculators, as the Government has recently denounced to its European colleagues.

This skyrocketing price of CO ₂ affects not only the price of electricity but also the costs of industries, therefore directly impacting the economy of a country. That is why its reform is necessary, according to the Government.

Source: The Energy Newspaper