Two recent events have influenced the price of emission units. First, a slight price increase followed the release of the results of the February 16, 2022 joint auction of emission units, where the current vintage emission units sold at a record price of US$29.15 (C$37.14). This is the fourth consecutive auction in which the price of emission units sets a new record. The market adjusted slightly upward following the announcement of the auction results, surpassing the US$30 mark for the first time since January 20, 2022.
More recently, the onset of the crisis in Ukraine has affected emission unit prices, resulting in a significant drop in prices. On March 7, 2022, the closing price of emission units on ICE reached a low of US$24.80. It has since rebounded slightly, but remains below the peak reached in November 2021.