The first quarter of trading under the EU emissions trading scheme (ETS) has been marked by a healthy increase in volume, with a daily record of 2.25 million tonnes of carbon being reached in March. Prices have also risen steeply. A tonne of carbon dioxide (CO2) for delivery at the end of 2005 is currently trading at around E14, rising from E8 where it remained stuck for several weeks at the end of 2004.

With interest in the market growing at such a rate, Energy Risk carried out its inaugural