Bloomberg News

EU Sells 3.5 Million EU Carbon Permits Below Market Price

January 08, 2013

The European Union sold 3.5 million prompt carbon emission permits at a lower price than bids on the open market, signaling lower demand for the allowances.

The auction price was 6.35 euros ($8.33) a metric ton, according to data from European Energy Exchange AG, the EU’s appointed auctioneer. Carbon permits eligible from 2013 through 2020 for delivery within two days were bid at 6.38 euros and offered at 6.46 euros a ton when the auction closed at 11 a.m. Berlin time, according to data from ICE Futures Europe.

At an auction yesterday, the first this year, the clearing price was higher than the prevailing cost of prompt permits for the first time since Oct. 23. The volume of bids in today’s sale totaled 8.7 million tons, or 2.4 times the volume of permits for sale, according to data from EEX. That’s lower than yesterday’s bid ratio of 2.6.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net


Reviving Keynes
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus