The Climate Protection Emergency Programme was adopted at the end of June, although less ambitiously than expected in advance. Other topics in June 2021 are the results of the first wind tender since 2017 with more than 1000 MW awarded and the lower share of renewables in the first quarter of 2021. Moreover, prices on the futures market reach new highs.
The CO2 price is becoming increasingly important for the electricity market. Therefore, we take a closer look at the CO2 market and the discussed changes in the European Emissions Trading Scheme (EU ETS). In this first article, we look at the current developments and the envisaged changes in the course of the new EU climate protection package “Fit for 55”.
The EU Commission ratifies the German renewable energy act 2021. Hydrogen also continues to boom, with energy giants planning their hydrogen strategies. The EU’s increased climate target agreed on in April could lead to a tightening of the EU ETS in June. Commodity and CO2-prices continued to rise in April, and strong winds caused negative prices on the spot market during Easter.
March 2021 is characterised by low feed-in from renewables, like the entire first quarter of 2021. The results of the heavily oversubscribed second coal tender have also been released this month. Commodity and CO2 prices rose again in March.