Bloomberg News

European Union Carbon Permits Drop as Natural Gas Declines

January 08, 2013

European Union carbon allowances fell as U.K. natural gas prices dropped, curbing demand for pollution rights in the world’s biggest cap-and-trade system.

EU permits for delivery in December declined as much as 1.5 percent to 6.56 euros ($8.61) a metric ton on London’s ICE Futures Europe exchange. The contract traded at 6.60 euros as of 8:35 a.m. in London.

U.K. natural gas for next month dropped 1 percent to 67.85 pence a therm. Carbon permits sometimes track gas because power utilities burning the fuel need half the permits compared with when they use more-polluting coal.

To contact the reporter on this story: Ewa Krukowska in Brussels at ekrukowska@bloomberg.net

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


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