The European benchmark price for carbon allowances on Monday climbed above 70 euros ($78.88) per tonne for the first time since the European Union’s carbon market launched in 2005. The December 21 EUA contract touched a high of 70.43 euros per tonne. It traded at 69.77 euros per tonne by 1016 GMT. Colder weather and less wind power output this week left more room for fossil fuel generation, which could translate into higher demand for EUAs, Refinitiv analyst Ingvild Sorhus said in a morning comment. “That said, with Europe being the epicentre of the COVID-19 pandemic, worries over more lockdown measures and lower activity could weigh on markets and also carbon,” she said, adding that […]