Energy commodities in the carbon complex were prompted by bullish European gas prompt prices which soared after news that Russia completely cut off gas supplies to Ukraine, raising supply concerns in the region. Cold weather resulted higher demand and helped the gas contracts as well. The EUA 2009 contract reached an intra-day high of EUR15.9/tCO2e before settling only slightly lower. However, gains could be less pronounced on the carbon market compared to other energy markets as some factored in fuel switching. On the other hand, many speculated that switching fuel is more expensive than to buy CERs.