EU Carbon prices dipped to €69/ton amid volatility regarding new reforms, but the structural target remains to cut emissions significantly by 2035. The "cheaper abatement options" in the power sector are exhausted. Future emissions cuts must come from harder-to-abate industrial sectors, which structurally requires a higher carbon price (projected €185/ton by 2035). The current dip is a policy-driven volatility event in a structural bull market. LONG EU Carbon Credits (via KRBN or futures) on the dip. EU politicians softening targets significantly to protect industrial competitiveness.