European carbon prices exceeded €80 per metric ton in early August 2026. The benchmark December 2026 contract hit a six-month high of €86.6 on 22 July. Analysts lowered 2026-2027 forecasts to €79.97 and €89.13 respectively. Prices remain supported by an emerging structural deficit in allowance supply. The market expects further increases from 2028 onward, reaching over €100 by 2029.