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June 17 (Bloomberg) — ArcelorMittal, the worlds largest steelmaker, had the biggest surplus of carbon-dioxide permits in the European Union emissions-trading system last year, Carbon Market Data said.
Under its program to cut output of greenhouse gases blamed for climate change, the EU sets limits for polluters and requires them to buy allowances for excess emissions. Companies with surplus permits can sell them to investors or other polluters in the EU system.
ArcelorMittals 2008 surplus of 20.8 million metric tons, valued at around 260 million euros ($360 million) at todays benchmark spot price on the BlueNext exchange in Paris, may help the company offset the surge in power prices, Carbon Market Data wrote in a statement today.
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