EU ETS prices rally on cold weather and high gas prices
Rising prices have added to concerns over CBAM impact on the competitiveness of EU manufacturing
EU emissions trading scheme (ETS) allowance prices hit a one-year-high of €84.35/tCO₂e ($68.13/tCO₂e) in early February amid cold weather and high gas prices. Prices have risen by around 30% since December, although they remain below the levels that many CCS project developers in Europe deem necessary to drive investment in emissions abatement, widely regarded as at least €100/t. Recent price increases were also linked to a suspension of allowance auctions during the holiday period. Auctions returned on the 7 January, but the additional supply has not yet depressed prices. “Fuel-switching and weather are critical drivers” Vertis Environmental Finance Higher gas prices have meant gas-
Also in this section
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
23 December 2025
Legislative reform in Germany sets the stage for commercial carbon capture and transport at a national level, while the UK has already seen financial close on major CCS clusters
15 December 2025
Net zero is not the problem for the UK’s power system. The real issue is with an outdated market design in desperate need of modernisation
28 November 2025
The launch of the bloc’s emissions trading system in 2005 was a pioneering step, but as the scheme hits 21 its impact as a driver of decarbonisation is still open to debate
