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EU Carbon Drops to Two-Week Low as Global Economy Seen Slowing
2010-07-26 07:57:15.725 GMT
By Mathew Carr
July 26 (Bloomberg) -- Carbon allowances in the European
Union emissions-trading system fell to their lowest in almost
two weeks as global growth may drop compared with the period
before the recession.
Global growth may average 3.25 percent to 3.5 percent in
the next three to five years, well below the 4.7 percent pace of
the five years leading to the 2008 slump, Stephen Roach, non-
executive chairman of Morgan Stanley Asia, estimated.
EU permits for December 2010 fell as much as 27 cents, or
1.9 percent, to 13.74 euros ($17.77) a metric ton on London's
European Climate Exchange. That's the lowest intra-day price
since July 14. They were at 13.79 euros at 8:43 a.m.
For Related News and Information:
Emission market news NI ENVMARKET <GO>
Today's top energy stories ETOP <GO>
European power-markets home page EPWR <GO>
--Editors: Randall Hackley, Raj Rajendran
To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net
