| Sourced From |
European Union carbon permits advanced, heading for the biggest monthly gain since April as German power prices increased.
EU permits for December rose as much as 1.3 percent to 15.49 euros a metric ton, nearing the two-month high of 15.55 euros on Aug. 26. The contract traded at 15.45 euros at 8:36 a.m. on Londons European Climate Exchange, up 9.2 percent this month.
Trading volumes were 184,000 metric tons, compared with an average of 8.5 million tons in the past 15 days because of a public holiday in the U.K.
German baseload power for next year, a European benchmark, rose as much as 0.9 percent to 51.70 euros a megawatt-hour, according to broker data compiled by Bloomberg. The contract traded at 51.6 euros as of 9:34 a.m. Berlin time and was up 1.8 percent this month.
Higher power prices can boost the incentive to sell electricity forward, stimulating demand for emission permits.
To contact the reporter on this story: Ewa Krukowska in Brussels at [email protected] ;
Related posts:
- EU Carbon Allowances Advance as Natural Gas, German Power Gain
- EU Carbon Permits Decline Along With Prices for Natural Gas, German Power
- EU carbon rises as German power, UK gas firm
- European Union CO2 Permits Little Changed Near Two-Month High
- EU Carbon Jumps to 11-Month High as Power Rises, Utilities Buy