{"id":13068,"date":"2026-09-20T12:28:37","date_gmt":"2026-09-20T12:28:37","guid":{"rendered":"https:\/\/eucarbonmarkets.com\/?p=13068"},"modified":"2026-09-20T12:52:04","modified_gmt":"2026-09-20T12:52:04","slug":"how-renewable-energy-can-transform-our-futurecontrol-2","status":"publish","type":"post","link":"https:\/\/eucarbonmarkets.com\/?p=13068&lang=zh","title":{"rendered":"EU ETS \u4f9b\u9700\u5e73\u8861\uff1a2030 \u5e74\u540e\u5e02\u573a\u52a8\u6001\u5c06\u5982\u4f55\u53d8\u5316\uff1f"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"13068\" class=\"elementor elementor-13068\">\n\t\t\t\t<div class=\"elementor-element elementor-element-6e942d8d e-flex e-con-boxed e-con e-parent\" data-id=\"6e942d8d\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5f87498b elementor-widget elementor-widget-text-editor\" data-id=\"5f87498b\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;ekit_we_effect_on&quot;:&quot;none&quot;}\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t\n<h2 class=\"wp-block-heading\"><strong>2026 \u5e74 9 \u6708 3 \u65e5<\/strong><\/h2>\n<p>\u6b27\u76df\u6392\u653e\u4ea4\u6613\u4f53\u7cfb\uff08EU Emissions Trading System\uff0cEU ETS\uff09\u662f\u4e00\u4e2a\u78b3\u5e02\u573a\uff0c\u5176\u4ef7\u683c\u5f62\u6210\u7684\u6838\u5fc3\u5728\u4e8e\u51cf\u6392\u76ee\u6807\u3001\u5e02\u573a\u4e2d\u7684 EUA\uff08EU Allowance\uff09\u4f9b\u5e94\uff0c\u4ee5\u53ca\u4f01\u4e1a\u4e3a\u5c65\u884c\u5408\u89c4\u4e49\u52a1\u800c\u4ea7\u751f\u7684 EUA \u9700\u6c42\u4e4b\u95f4\u7684\u5e73\u8861\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u5728\u8bc4\u4f30 EU ETS \u4ef7\u683c\u65f6\uff0c\u4e0d\u80fd\u53ea\u5173\u6ce8\u5f53\u524d\u7684 EUA \u4ef7\u683c\uff0c\u8fd8\u9700\u8981\u5224\u65ad<strong>\u672a\u6765\u5e02\u573a\u5c06\u4f1a\u6709\u591a\u7d27\u5f20\u6216\u591a\u5bbd\u677e<\/strong>\u3002<\/p>\n<p>\u6b27\u76df\u59d4\u5458\u4f1a\u4e8e 2026 \u5e74 7 \u6708 17 \u65e5\u63d0\u51fa\u7684 EU ETS \u4fee\u8ba2\u63d0\u6848\uff0c\u5c24\u5176\u9488\u5bf9 2030 \u5e74\u4e4b\u540e\u4f9b\u9700\u5e73\u8861\u53ef\u80fd\u5982\u4f55\u53d8\u5316\u63d0\u51fa\u4e86\u91cd\u8981\u8c03\u6574\u3002<\/p>\n<p>\u964d\u4f4e\u78b3\u8db3\u8ff9\u6700\u6709\u6548\u7684\u65b9\u6cd5\u4e4b\u4e00\u662f\u51cf\u5c11\u80fd\u6e90\u6d88\u8017\u3002\u4f7f\u7528\u8282\u80fd\u8bbe\u5907\u3001\u6539\u7528 LED \u7167\u660e\uff0c\u4ee5\u53ca\u5728\u4e0d\u4f7f\u7528\u65f6\u5173\u95ed\u8bbe\u5907\u7b49\u7b80\u5355\u63aa\u65bd\uff0c\u90fd\u53ef\u4ee5\u663e\u8457\u51cf\u5c11\u6392\u653e\u3002\u5728\u6761\u4ef6\u5141\u8bb8\u7684\u60c5\u51b5\u4e0b\u9009\u62e9\u53ef\u518d\u751f\u80fd\u6e90\uff0c\u8fd8\u53ef\u4ee5\u8fdb\u4e00\u6b65\u51cf\u5c11\u5bf9\u5316\u77f3\u71c3\u6599\u7684\u4f9d\u8d56\uff0c\u5e76\u652f\u6301\u66f4\u52a0\u6e05\u6d01\u7684\u80fd\u6e90\u751f\u4ea7\u3002<\/p>\n<blockquote>\n<p>2030 \u5e74\u4e4b\u540e\uff0cEU ETS \u7684\u4f9b\u9700\u5e73\u8861\u53ef\u80fd\u53d1\u751f\u53d8\u5316\u3002\u6b27\u76df\u59d4\u5458\u4f1a\u4e8e 2026 \u5e74 7 \u6708 17 \u65e5\u63d0\u51fa\u7684\u4fee\u8ba2\u65b9\u6848\uff0c\u901a\u8fc7\u653e\u7f13\u603b\u91cf\u4e0a\u9650\uff08cap\uff09\u7684\u4e0b\u964d\u901f\u5ea6\uff0c\u53ef\u80fd\u4f7f\u957f\u671f EUA \u4f9b\u5e94\u76f8\u5bf9\u589e\u52a0\uff0c\u5e76\u964d\u4f4e\u5e02\u573a\u7a00\u7f3a\u7a0b\u5ea6\u3002\u5728\u5176\u4ed6\u5e02\u573a\u6761\u4ef6\u4fdd\u6301\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u8fd9\u4e9b\u53d8\u5316\u610f\u5473\u7740\u65b0\u7684\u4f9b\u9700\u7ed3\u6784\u53ef\u80fd\u5bf9 EUA \u4ef7\u683c\u5f62\u6210\u4e0b\u884c\u538b\u529b\u3002<\/p>\n<\/blockquote>\n<h2>EUA \u4f9b\u5e94\u5982\u4f55\u5f62\u6210\uff1f<\/h2>\n<p>EU ETS \u4e2d\u7684 EUA \u603b\u91cf\u53d7\u5230\u957f\u671f**\u6392\u653e\u603b\u91cf\u4e0a\u9650\uff08emissions cap\uff09**\u7684\u9650\u5236\u3002\u8be5\u4e0a\u9650\u4f1a\u968f\u7740\u65f6\u95f4\u63a8\u79fb\u9010\u6b65\u964d\u4f4e\uff0c\u4ece\u800c\u51cf\u5c11\u5e02\u573a\u4e2d\u7684\u914d\u989d\u603b\u4f9b\u5e94\u91cf\uff0c\u5e76\u4e3a\u4f01\u4e1a\u964d\u4f4e\u6392\u653e\u63d0\u4f9b\u7ecf\u6d4e\u6fc0\u52b1\u3002<\/p>\n<p>\u603b\u91cf\u4e0a\u9650\u6bcf\u5e74\u7684\u4e0b\u964d\u901f\u5ea6\u7531**\u7ebf\u6027\u524a\u51cf\u56e0\u5b50\uff08Linear Reduction Factor\uff0cLRF\uff09**\u51b3\u5b9a\u3002<\/p>\n<p>\u73b0\u884c\u4f53\u7cfb\u4fdd\u6301\u8f83\u9ad8\u7684\u603b\u91cf\u4e0a\u9650\u524a\u51cf\u901f\u5ea6\uff0c\u800c 2026 \u5e74 7 \u6708 17 \u65e5\u63d0\u51fa\u7684\u4fee\u8ba2\u65b9\u6848\u5219\u8ba1\u5212\u5728<strong>2031 \u5e74\u4e4b\u540e\u653e\u7f13\u603b\u91cf\u4e0a\u9650\u7684\u4e0b\u964d\u901f\u5ea6<\/strong>\u3002<\/p>\n<p>\u4ece\u4f9b\u9700\u89d2\u5ea6\u6765\u770b\uff0c\u8fd9\u4e00\u53d8\u5316\u5341\u5206\u5173\u952e\uff1a<\/p>\n<p><strong>\u66f4\u6162\u7684 cap reduction \u2192 EUA \u4f9b\u5e94\u6536\u7f29\u901f\u5ea6\u653e\u7f13 \u2192 \u7a00\u7f3a\u7a0b\u5ea6\u964d\u4f4e \u2192 \u5728\u5176\u4ed6\u6761\u4ef6\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u53ef\u80fd\u5bf9\u4ef7\u683c\u5f62\u6210\u4e0b\u884c\u538b\u529b\u3002<\/strong><\/p>\n<p>\u9700\u8981\u6ce8\u610f\u7684\u662f\uff0c\u8fd9\u5e76\u4e0d\u610f\u5473\u7740\u201c\u7a81\u7136\u5411\u5e02\u573a\u6295\u653e\u66f4\u591a EUA\u201d\u3002\u5176\u5f71\u54cd\u66f4\u591a\u4f53\u73b0\u4e3a\uff1a\u4e0e\u73b0\u884c\u4f53\u7cfb\u76f8\u6bd4\uff0c<strong>\u672a\u6765\u7684\u4f9b\u5e94\u73af\u5883\u5c06\u4e0d\u90a3\u4e48\u7d27\u5f20<\/strong>\u3002<\/p>\n<h2>MSR\uff1a\u5e02\u573a\u7684\u81ea\u52a8\u5e73\u8861\u673a\u5236<\/h2>\n<p>EUA \u4f9b\u9700\u5e73\u8861\u4e2d\u7684\u7b2c\u4e8c\u4e2a\u91cd\u8981\u56e0\u7d20\u662f<strong>\u5e02\u573a\u7a33\u5b9a\u50a8\u5907\uff08Market Stability Reserve\uff0cMSR\uff09<\/strong>\u3002<\/p>\n<p>MSR \u7684\u5efa\u7acb\u662f\u4e3a\u4e86\u9632\u6b62 EU ETS \u5e02\u573a\u4e2d\u51fa\u73b0\u7ed3\u6784\u6027 EUA \u8fc7\u5269\u3002\u8be5\u673a\u5236\u6839\u636e\u53cd\u6620\u5e02\u573a\u914d\u989d\u603b\u91cf\u7684**\u6d41\u901a\u4e2d\u914d\u989d\u603b\u91cf\uff08Total Number of Allowances in Circulation\uff0cTNAC\uff09**\u6307\u6807\u8fd0\u884c\u3002<\/p>\n<p>\u5f53 TNAC \u8d85\u8fc7\u7279\u5b9a\u95e8\u69db\u65f6\uff0c\u90e8\u5206 EUA \u4f1a\u4ece\u62cd\u5356\u4f9b\u5e94\u4e2d\u88ab\u64a4\u51fa\u5e76\u8f6c\u5165 MSR\u3002\u6839\u636e\u73b0\u884c\u89c4\u5219\uff0c\u5f53 TNAC \u8d85\u8fc7 10.96 \u4ebf EUA \u65f6\uff0c\u5728\u6ee1\u8db3\u76f8\u5173\u6761\u4ef6\u7684\u60c5\u51b5\u4e0b\uff0cMSR \u4f1a\u6309\u7167 TNAC \u7684 24% \u4ece\u5e02\u573a\u4e2d\u5438\u6536\u914d\u989d\u3002<\/p>\n<p>\u7b80\u5355\u6765\u8bf4\uff1a<\/p>\n<p><strong>Surplus \u2191 \u2192 MSR intake \u2191 \u2192 \u5e02\u573a EUA \u4f9b\u5e94 \u2193<\/strong><\/p>\n<p>\u8fd9\u4e00\u673a\u5236\u65e8\u5728\u51cf\u5c11\u5e02\u573a\u4e2d\u7684\u7ed3\u6784\u6027\u8fc7\u5269\uff0c\u4ece\u800c\u7ef4\u6301\u78b3\u4ef7\u683c\u957f\u671f\u51cf\u6392\u4fe1\u53f7\u7684\u6709\u6548\u6027\u3002<\/p>\n<p>\u622a\u81f3 2025 \u5e74\u5e95\uff0cEU ETS \u7684 TNAC \u7ea6\u4e3a<strong>10.23 \u4ebf EUA<\/strong>\u3002\u56e0\u6b64\uff0c\u9884\u8ba1\u5728 2026 \u5e74 9 \u6708\u81f3 2027 \u5e74 8 \u6708\u671f\u95f4\uff0c\u7ea6\u6709<strong>1.905 \u4ebf EUA \u88ab\u8f6c\u5165 MSR<\/strong>\u3002<\/p>\n<h2>2026 \u5e74 7 \u6708 17 \u65e5\u4fee\u8ba2\u63d0\u6848\u4e3a\u4ec0\u4e48\u91cd\u8981\uff1f<\/h2>\n<p>\u6b27\u76df\u59d4\u5458\u4f1a\u4e8e 2026 \u5e74 7 \u6708 17 \u65e5\u63d0\u51fa\u7684\u65b9\u6848\uff0c\u8ba1\u5212\u5bf9 EU ETS \u7684\u957f\u671f\u4f9b\u5e94\u7ed3\u6784\u8fdb\u884c\u91cd\u8981\u8c03\u6574\u3002<\/p>\n<p>\u5c24\u5176\u662f\u5728 2030 \u5e74\u4e4b\u540e\uff0c\u4e0e\u73b0\u884c\u653f\u7b56\u8def\u5f84\u76f8\u6bd4\u653e\u7f13\u603b\u91cf\u4e0a\u9650\u4e0b\u964d\u901f\u5ea6\uff0c\u53ef\u80fd\u4f7f\u672a\u6765\u5e02\u573a\u4e2d\u53ef\u83b7\u5f97\u7684 EUA \u6570\u91cf\u7ef4\u6301\u5728\u66f4\u9ad8\u6c34\u5e73\u3002<\/p>\n<p>\u5176\u5bf9\u4f9b\u9700\u5173\u7cfb\u7684\u6838\u5fc3\u5f71\u54cd\u53ef\u4ee5\u6982\u62ec\u4e3a\uff1a<\/p>\n<p><strong>\u66f4\u6162\u7684 cap reduction<\/strong><br \/><strong>\u2192 \u66f4\u9ad8\u7684\u6f5c\u5728 EUA \u4f9b\u5e94<\/strong><br \/><strong>\u2192 \u66f4\u4f4e\u7684 scarcity<\/strong><br \/><strong>\u2192 Surplus \u51fa\u73b0\u7684\u53ef\u80fd\u6027\u589e\u52a0<\/strong><br \/><strong>\u2192 \u5728\u5176\u4ed6\u6761\u4ef6\u4e0d\u53d8\u7684\u60c5\u51b5\u4e0b\uff0c\u5bf9 EUA \u4ef7\u683c\u5f62\u6210\u4e0b\u884c\u538b\u529b<\/strong><\/p>\n<p>\u4f46\u8fd9\u4e00\u673a\u5236\u5e76\u4e0d\u610f\u5473\u7740\u4ef7\u683c\u4f1a\u81ea\u52a8\u4e0b\u8dcc\u3002EUA \u4ef7\u683c\u8fd8\u53d7\u5230\u7535\u529b\u751f\u4ea7\u4e2d\u7684\u71c3\u6599\u7ed3\u6784\u3001\u5de5\u4e1a\u751f\u4ea7\u3001\u7ecf\u6d4e\u589e\u957f\u3001\u80fd\u6e90\u4ef7\u683c\u3001\u4f01\u4e1a\u8131\u78b3\u6295\u8d44\u4ee5\u53ca MSR \u8fd0\u884c\u65b9\u5f0f\u7b49\u591a\u79cd\u56e0\u7d20\u5f71\u54cd\u3002<\/p>\n<h2>MSR \u7684\u53d8\u5316\u53ef\u80fd\u5982\u4f55\u5f71\u54cd\u4f9b\u9700\u5e73\u8861\uff1f<\/h2>\n<p>\u4fee\u8ba2\u8fc7\u7a0b\u4e2d\u7684\u53e6\u4e00\u4e2a\u91cd\u8981\u8bae\u9898\u662f MSR \u672a\u6765\u7684\u8fd0\u884c\u65b9\u5f0f\u3002<\/p>\n<p>MSR \u7684\u4e3b\u8981\u76ee\u7684\u662f\u51cf\u5c11\u8fc7\u53bb\u5f62\u6210\u7684\u7ed3\u6784\u6027 Surplus\uff0c\u5e76\u4e3a\u5e02\u573a\u4f9b\u9700\u5931\u8861\u63d0\u4f9b\u7f13\u51b2\u673a\u5236\u3002\u6b27\u76df\u59d4\u5458\u4f1a\u5728 2026 \u5e74\u7684\u8bc4\u4f30\u4e2d\u6307\u51fa\uff0c\u5982\u679c\u6c38\u4e45\u6ce8\u9500\uff08invalidation\uff09MSR \u4e2d\u6301\u6709\u7684\u914d\u989d\uff0c\u53ef\u80fd\u8fdb\u4e00\u6b65\u6536\u7d27\u672a\u6765\u4f9b\u5e94\uff0c\u5e76\u5bf9\u4ef7\u683c\u5f62\u6210\u4e0a\u884c\u538b\u529b\u3002\u56e0\u6b64\uff0c\u6b27\u76df\u59d4\u5458\u4f1a\u4e5f\u63d0\u51fa\u505c\u6b62 invalidation \u673a\u5236\u3002<\/p>\n<p>\u8fd9\u4e00\u53d8\u5316\u5c24\u5176\u65e8\u5728<strong>\u4e3a\u5e94\u5bf9 2030 \u5e74\u4ee3\u4e2d\u671f\u53ca\u4ee5\u540e\u5e02\u573a\u8fc7\u5ea6\u7d27\u5f20\u7684\u98ce\u9669\uff0c\u4fdd\u7559\u66f4\u5927\u7684\u914d\u989d\u50a8\u5907<\/strong>\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u4ece\u957f\u671f\u6765\u770b\uff1a<\/p>\n<p><strong>\u66f4\u6162\u7684 cap reduction + MSR \u4e2d\u80fd\u591f\u4fdd\u7559\u66f4\u591a allowance<\/strong><\/p>\n<p>\u53ef\u80fd\u4f7f\u5e02\u573a\u76f8\u8f83\u4e8e\u5f53\u524d\u653f\u7b56\u8def\u5f84\u964d\u4f4e\u7531 scarcity \u9a71\u52a8\u7684\u7a0b\u5ea6\u3002<\/p>\n<h2>2027\u20132030 \u5e74\u9636\u6bb5\u6709\u6240\u4e0d\u540c<\/h2>\n<p>\u8fd9\u91cc\u9700\u8981\u8fdb\u884c\u4e00\u4e2a\u91cd\u8981\u533a\u5206\u3002<\/p>\n<p>\u4e0d\u80fd\u5c06 7 \u6708 17 \u65e5\u4fee\u8ba2\u63d0\u6848\u7684\u957f\u671f\u4f9b\u5e94\u5f71\u54cd<strong>\u76f4\u63a5\u5957\u7528\u5230 2027\u20132030 \u5e74\u9636\u6bb5<\/strong>\u3002<\/p>\n<p>\u6839\u636e\u73b0\u884c\u89c4\u5219\uff0cLRF \u5728 2024\u20132027 \u5e74\u671f\u95f4\u4e3a 4.3%\uff0c\u5728 2028\u20132030 \u5e74\u671f\u95f4\u5219\u4e3a 4.4%\u3002<\/p>\n<p>\u56e0\u6b64\uff0c\u5728 2027\u20132030 \u5e74\u671f\u95f4\uff0cEUA \u5e02\u573a\u4ecd\u7136\u9762\u4e34\u8f83\u5f3a\u7684\u7ed3\u6784\u6027 cap reduction \u673a\u5236\u3002<\/p>\n<p>\u4e0e\u6b64\u540c\u65f6\uff0cMSR \u76ee\u524d\u4ecd\u5728\u79ef\u6781\u4ece\u5e02\u573a\u4e2d\u5438\u6536 Surplus\u3002\u4f8b\u5982\uff0c\u5728 2026 \u5e74 9 \u6708\u81f3 2027 \u5e74 8 \u6708\u671f\u95f4\uff0c\u8ba1\u5212\u7ea6\u6709 1.905 \u4ebf EUA \u88ab\u8f6c\u5165 MSR\u3002<\/p>\n<p>\u56e0\u6b64\uff0c<strong>\u5bf9\u4e8e 2027\u20132030 \u5e74\uff0c\u76f4\u63a5\u5f97\u51fa\u201c7 \u6708 17 \u65e5\u4fee\u8ba2\u65b9\u6848\u5c06\u589e\u52a0\u4f9b\u5e94\u201d\u7684\u7ed3\u8bba\u5e76\u4e0d\u51c6\u786e\u3002<\/strong><\/p>\n<p>\u771f\u6b63\u7684\u53d8\u5316\u4e3b\u8981\u4f53\u73b0\u5728<strong>2031 \u5e74\u4e4b\u540e\u7684\u4f9b\u5e94\u8def\u5f84<\/strong>\u3002<\/p>\n<h2>\u56fd\u9645\u78b3\u4fe1\u7528\uff1a\u4e0d\u5e94\u4e0e EUA \u6df7\u6dc6<\/h2>\n<p>2026 \u5e74 7 \u6708 17 \u65e5\u7684\u63d0\u6848\u8fd8\u63d0\u51fa\uff0c\u5728\u5b9e\u65bd 2040 \u5e74\u6c14\u5019\u76ee\u6807\u7684\u6846\u67b6\u4e0b\uff0c\u6709\u9650\u5ea6\u4f7f\u7528\u9ad8\u8d28\u91cf\u56fd\u9645\u78b3\u4fe1\u7528\u3002<\/p>\n<p>\u8fd9\u4e00\u673a\u5236\u5e76\u4e0d\u610f\u5473\u7740\u4f01\u4e1a\u5f53\u524d\u7684 EU ETS \u5408\u89c4\u4e49\u52a1\u53ef\u4ee5\u81ea\u52a8\u6309\u7167\u4ee5\u4e0b\u65b9\u5f0f\u8f6c\u6362\uff1a<\/p>\n<p><strong>90 \u5428\u6392\u653e \u2192 85 EUA + 5 \u4e2a international credits<\/strong><\/p>\n<p>\u56e0\u6b64\uff0c\u4e5f\u4e0d\u80fd\u76f4\u63a5\u5c06\u56fd\u9645\u78b3\u4fe1\u7528\u7406\u89e3\u4e3a**\u201c\u989d\u5916\u589e\u52a0 2.6 \u4ebf EUA \u4f9b\u5e94\u201d<strong>\u6216<\/strong>\u201c\u786e\u5b9a\u51cf\u5c11 2.6 \u4ebf EUA \u9700\u6c42\u201d**\u3002<\/p>\n<p>\u8fd9\u4e00\u95ee\u9898\u66f4\u5e7f\u6cdb\u5730\u6d89\u53ca\u6b27\u76df\u5c06\u5982\u4f55\u5b9e\u73b0 2040 \u5e74\u6c14\u5019\u76ee\u6807\uff0c\u5177\u4f53\u5b9e\u65bd\u7ec6\u8282\u9884\u8ba1\u5c06\u5728\u540e\u7eed\u6cd5\u89c4\u4e2d\u8fdb\u4e00\u6b65\u660e\u786e\u3002<\/p>\n<h2>\u4e3a\u4ec0\u4e48\u4f9b\u9700\u5e73\u8861\u5bf9 EUA \u4ef7\u683c\u5982\u6b64\u91cd\u8981\uff1f<\/h2>\n<p>EU ETS \u4ef7\u683c\u5f62\u6210\u7684\u57fa\u672c\u7ecf\u6d4e\u903b\u8f91\u76f8\u5bf9\u7b80\u5355\uff1a<\/p>\n<p>\u5f53\uff1a<\/p>\n<p><strong>EUA \u9700\u6c42 &gt; \u5e02\u573a\u5bf9\u73b0\u6709\u4f9b\u5e94\u7d27\u5f20\u7a0b\u5ea6\u7684\u9884\u671f<\/strong><\/p>\n<p>\u4ef7\u683c\u53ef\u80fd\u9762\u4e34\u4e0a\u884c\u538b\u529b\u3002<\/p>\n<p>\u76f8\u53cd\uff0c\u5f53\uff1a<\/p>\n<p><strong>EUA \u4f9b\u5e94 \u2191 \/ EUA scarcity \u2193<\/strong><\/p>\n<p>\u4ef7\u683c\u53ef\u80fd\u9762\u4e34\u4e0b\u884c\u538b\u529b\u3002<\/p>\n<p>\u4f46\u4ec5\u4ec5\u89c2\u5bdf\u5e74\u5ea6 auction supply \u5e76\u4e0d\u8db3\u591f\u3002\u5e02\u573a\u53c2\u4e0e\u8005\u8fd8\u4f1a\u5c06\u672a\u6765\u7684 cap\u3001MSR\u3001banked 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