Emission allowance prices for the EU and the Czech Republic reach their peak

Published: 23.11.2021 Related countries:  Israel Israel

The pressure on the European market for emission allowances is increasing.

The price of emission allowances in the European Union exceeded the limit of 70 euros (roughly ILS 245) per tonne for the first time. The rising price of allowances is one of the factors contributing to the huge rise in energy prices that Czech households are currently facing.

The cold weather and the lower output of wind farms had an impact on prices. This increased energy production using fossil fuels and consequently, it increased demand for allowances.

The emissions trading scheme is the EU's main tool for curbing greenhouse gas emissions. It was launched in 2005.

Source: ČTK
Prepared by the team of the CzechTrade/Czech Invest office in Israel.