Deutsche Bank revises carbon price forecast – good news for CCS
Deutsche Bank has forecast a 2008 EU Emission Allowance (EUA) price of €40 per tonne, up from €35. The bank says a price of €40 will be high enough to incentivise future power plant and carbon capture and storage (CCS) build.
The €40 EUA price is based on Deutsche Bank’s long term gas and coal price estimates, and is the price “required to fulfil the policy objective of making CCS the new-entrant technology of choice for power generators by 2020,” according to the bank.
Whether or not CCS becomes the new entrant of choice by 2020 will depend to a large extent on future gas prices.
“Based on our revised forecast for long-term oil, gas and coal prices, our base-case scenario for the residual ETS abatement required via
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