Spains ETS emissions to dive 18% this year – analyst
27 November 2020 | Trading
Emissions from Spanish installations under the EU ETS looked poised to dive 18% year on year in 2020 due to the impact of the coronavirus, said an analyst with a Spanish carbon firm on Thursday.
“Emissions are going to drop by 18% in Spain and a little bit less in Europe as a whole. But emissions are going to drop dramatically,” Iker Larrea, head of markets at Factor CO2, told Montel’s Iberian Energy Day.
Spanish ETS emissions would end the year “below the 100m tonnes mark for the first time”, he added, noting the power sector would be “barely emitting 35m tonnes this year”.
“The pandemic has accelerated the decarbonisation of the power sector,” he said.
Lockdowns in Europe to curb the spread of the coronavirus pandemic had severely dented power demand this year.
ETS emissions from Spain’s power sector plunged nearly 30% year on year in 2019 to 42.5m tonnes of CO2 equivalent, while the country’s overall ETS emissions dropped 14% year on year to 109.3m tonnes.