(Montel) EUAs breached EUR 30/t for the fourth time this year on Monday as traders reacted to suggestions the European Commission might propose a one-off adjustment to the cap on emissions in the EU ETS.
The benchmark Dec 20 EUA contract reached a high of EUR 30.09/t on Ice Futures, the highest since 31 August, as the market absorbed the implications of this potential reform. Permits last traded at EUR 29.93/t for a 5.9% gain.
A commission document showed the regulator was considering a steeper annual cut in the cap on emissions, in addition to a single adjustment that would…
