As high gas prices push electricity generators to use more coal-fired power, analysts have upped their European carbon market average price forecasts for 2024, but have cautioned that the Russia-Ukraine conflict might stifle industrial activity and decrease demand for carbon credits.
According to a Reuters’ survey of eight experts, EU Allowances (EUAs) would average 85.22 euros a tonne in 2022 and 94.23 euros in 2023. This is up 1.3% and 2.7% respectively from projections made in January.
