Green Markets

EWN Publishing

GEC market spots trade at the sub-$14 level

Posted by gmarkets on 25 September, 2007

In the GEC market, the previous week’s buyer intuition appeared to come true as the spots traded at the sub $14 level. 100K of the spots went through at $13.75 and the spread then moved down to reflect a price somewhere below this.

GPR action: Some action was also seen in the GPR market as a small parcel (7K) went through at $1.00. Further interest remained in the market on both sides late in the week.

Quiet VREC times: In the market for VRECs things remain quiet. With the considerable attention being drawn by MRET and the lack of current year obligations, it’s no surprise that market participants are in no hurry to trade.

European future allowance prices up: In Europe, after starting the week down on Monday, prices for the Dec 2008 allowances gradually increased across the week in a reflection of the positive sentiment of recent times. By the end of the week the allowance’s price went on to close at an 11-week high of €21.75.

Reference: The Green Room, Edition 121, 24 September 2007

Erisk Net, 25/9/2007

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