Yes, rumours believe the EUA price is going way more down. It is a much to speculative environment right now. I announce today that the EU Climate Change Gold Rush is over!
Don’t you spend future EUA money upfront EU Commission and EU member states! Its going to be debt soon if you don’t take proper care. You are going to hate it when the utilities allocate their money for internal emission reductions rather then . . . → Read More: Speculative Climate Change Gold Rush will push the EUA price below 10 €
The Hague – The Netherlands.
One year on from a Europol warning about an estimated 5 billion euros in damage for European taxpayers, caused by VAT-fraud within the EU Emission Trading System (ETS), law enforcement authorities around Europe continue to fight the criminal networks involved. In operations during 2010, several hundred offices all over Europe have been raided and more than 100 people arrested.
In the latest operation on 17 December 2010, the Italian Guardia . . . → Read More: Europol: Further investigations into VAT fraud
Finally the police has decided to stop the fraudsters in Italy yesterday ! As most companies are shell companies, not sure they will get much from this massive operation !
So after Italy, which is gonna be the next targeted country by the VAT fraudster ?
Italy tax police probe VAT fraud in carbon trading Fri Dec 17, 2010 1:42pm GMT
* Numerous small firms involved in “carousel” fraud -police * Fraud led . . . → Read More: Italy tax police probe VAT fraud in carbon trading
Trading suspended indefinitely while the exchange works out what to do next.
There’s a chart going around today that shows Italian spot EUAs (as traded on the GME exchange) changing hands for anything up to €1.50 lower than the BlueNext price. GME trades carbon once a week – Thursdays – and volume has gone from maybe 10,000 tonnes a month last year to suddenly more than 1-2 million every time the exchange operates. Anybody want to speculate as to what exactly is going on?