Issue CVVIV

The contents of the Newsletter is not a recommendation, either implicit or explicit, to buy or sell emission permits.
Contact: David Boles, Compliance Markets -Direct: +3531 4433 584; Mob:00353 831744707
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Carbon Newsletter
DBLM Solutions
03 April 2013


The EUA Dec13 contract is currently at 4.87.
With European utilities receiving no free
allowances for the present compliance period,
traded volumes are at record highs. March saw
547,702,000 Dec14 EUAs traded.
The UN Offset swap facility is now functional for
all EUETS participants via their respective EUTL
registry accounts. By logging into your EU ETS
Registry Account you should now be able to check
your UN offset exchange limit - go to the
"Holdings" tab of your account and check the table
at the bottom of the screen.
At this stage of the compliance year all verified
emission data is published for 2013. The
preliminary results show an emission reduction of
1.6% compared to 2012 emission levels acrossthe
industrial and power producing sector which
accounts for about 40% of emissions from the
eurozone.
Weekly
Recap
Nasdaq
EUA
Spot
Nasdaq
CER
Spot
Nasdaq
EUA
Dec13
Nasdaq
CER
Dec13
27/03/2014 5.22 0.16 5.25 0.15
28/03/2014 4.35 0.17 4.54 0.16
31/03/2014 4.63 0.18 4.60 0.16
01/04/2014 5.04 0.19 5.10 0.16
02/04/2014 4.82 0.15 4.89 0.15
Volumes lots - - - -
Week %

-7.66% -6.25% -6.85% 0

The EUA/CER spread widened this week to 4.67,
at close of business last night versus the 5.59
spread we witnessed last week and 5.63 the week
before.
Auctions
EEX held auctions last Thursday , Friday, Monday
& Tuesday. Auction prices were 5.35,
5.10, 4.17, & 4.90 respectively. The cover
ratios for the above auctions were 9.03, 5.38, 3.26,
& 3.75 respectively.
Aviation
Last night in Brussels the European Parliament
finalised legislation that will exempt International
Aviators from mandatory inclusion in the EUETS.
This vote gives closure to uncertainty around the
inclusion of the aviation sector in the EUETS.
Flights within the eurozone will be included in the
cap and trade and scheme until 2020 at the very
least. This gives much needed certainty for the
relevant participants after much speculation about
the ICAO (International Civil Aviation
Organisation) formulating a global cap and trade
scheme for the aviation sector. Last September, the
ICAO, consisting of 190 Nations, committed to
build a global emission trading scheme by 2016.
However they refused to comply with the EUETS
in the meantime. The global scope of the EUETS
will reactivate in 2016 if no measures are
developed by the ICAO.