Headline – VEEC Spot price recovery
- The VEEC spot price as of COB Friday was $20.20. This represents a recovery from the $16.25 price of early Feb.
- The price has risen on the back of slower than expected VEEC creation from the amended 21A Abulb activity. However, creation in this activity has increased to a new record level last week (see second graph below in red) indicating that it is finally gaining traction and this activity has the potential to quickly supply large numbers of VEECs into the market which may prompt a response from the forward/spot VEEC market.
In the week ending 10th March 2019, VEEC creation was as follows:
- 73,612 down 17% compared to the previous week’s creation of 88,624
- The average for the last 3 weeks is 84,260
- Commercial Lighting contributed 48,214 (66%) compared to 61,315 (69%) the previous week
- The VEEC spot price was $20.20 COB Friday, up $0.70 from the previous Friday.
The graph below shows the overall trend of total VEECs created each week.