As far as I understood so far, it's a contract traded on the stock exchange. Is this correct and what does Cal 22 stand for?
GERMAN – Cal 22 gains in line with carbon
[EDIT] context: text on energy markets
the prices of Cal22 Power Ita, which closed last Friday at around €56/MWh, are only around €4/MWh higher than the average of the last 5 years, excluding 2020