The EU ETS reform has been officially approved by the European Parliament and EU member states, meaning more businesses and industries will be required to pay for their carbon emissions in the years to come. This change is sure to have a major impact on the environment and contribute to the worldwide effort to reduce greenhouse gases.
EUA price has been finding support in 88 EUR level where previous resistance held indicating a potential upward momentum could be in the cards. The spike form from 70s to 90s from mid-January to beginning in February was showing increase in demand for EUAs mainly due to closed short positions which could decelerate the upward movement continuing in the coming days.
This week, trading is likely to remain mainly technical, and the price could move in a range between 90 and 98 EUR, with a slight upward trend.