European Union carbon permits advanced to a three-month high as rising German power and U.K. natural gas prices boosted demand for emission allowances.
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EU Carbon Permits Decline Along With Prices for Natural Gas, German Power
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Carbon allowances in the European Unions emissions-trading system, the worlds largest, dropped along with natural gas and German electricity prices.
EU 2010 Carbon Premium Over UN Credits Is at Widest in 8 Months
May 6 (Bloomberg) — The premium of European Union carbon- dioxide permits over United Nations offset credits rose to an eight-month high as regulators proposed a so-called multiplier that would require the import of extra UN credits.
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EU CO2 Permits Poised for Biggest Weekly Gain in Four Months
April 9 (Bloomberg) — European Union carbon permits advanced, heading for the biggest weekly gain in four months, amid rising German power prices.
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- Author: admin
- Published: Aug 25th, 2008
- Category: Carbon Market News
- Comments: 2
CCX Begins Trading RGGI Carbon Allowances
Last week the Chicago Climate Exchange began under the Regional Greenhouse Gas Inititative . The RGGI consists of 10 member states and is the first cap-and-trade system in the US that makes it compulsory for power plants to either adhere to the stipulated emission levels or purchase more permits.
The system is being touted as one that will pave the way for a more comprehensive carbon trading scheme in the future – since both the presidential candidates are in favor of a federal carbon market. However, as of now the scheme has set caps that are higher than the emission levels of the region and as such will not bring about any serious co2 cutbacks. The EU made the same mistake in its first phase, when it doled out more permits than were needed and as a result prices of EU permits crashed in 2006.
- a fraction of the cost of EU permits. At this level, it will be cheaper for power generators to offset their emissions through purchase of permits, instead of taking much-needed steps such as switching to natural gas or using CCS technology.