EU ETS Carbon Market Update – Week 36, 2026
2 September 2026
The fundamental backdrop for EUAs has turned more supportive.
EU ETS Carbon Market Update – Week 36, 2026
Last week, the EUA Spot price saw a slight increase, closing the week at €82.10 (up 0.4%). The market remains active with a weekly trading spread of €2.65 between the high (€83.98) and low (€81.33). Auction volumes were slightly lower this week, totalling 11.7 million EUAs.
Market Levels (11:00 CET - Aug 31st , 2026)
Indicative Spot EUA Price: €82.43
Indicative Dec26 EUA Price: €83.11
For the carbon market, sustained gas strength is a key driver: when gas prices rise, coal becomes a more competitive alternative for power generation. Because coal is more emission-intensive, this shift typically increases the demand for EUAs. Meanwhile, EU gas storage currently sits at 64.7%. While relatively comfortable, it remains below the five-year average for this time of year, keeping energy markets sensitive to supply disruptions.
Short-Term Outlook
Heading into the coming week, the fundamental outlook is moderately bullish for EUAs. Elevated gas prices, tighter energy markets, and geopolitical risks provide the strongest support. Gas prices and developments in the Middle East will likely remain the key drivers of EUA direction in the days ahead.
Key Headlines to Watch:
European Natural Gas Futures rise after US military strikes Iran.
Oil advances on fresh Mideast strikes and claims of tanker hitting mines.
Turkiye publishes ETS regulations; UK sets out schemes eligible for CBAM price relief.
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