natural gas also down...what's the BEST reason for this decline, folks?
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EU Carbon Declines Most in Seven Weeks as German Power Drops
2010-09-10 14:35:03.846 GMT
By Ewa Krukowska
Sept. 10 (Bloomberg) -- European Union carbon-dioxide
allowances dropped the most in almost seven weeks as German
power prices fell, making it less attractive to sell electricity
forward and reducing demand for emission rights.
EU permits for December dropped as much as 2.5 percent to
15.12 euros a metric ton, the biggest intraday decline since
July 26. They traded at 15.20 euros as of 3:30 p.m. on London's
European Climate Exchange, extending their loss to 3.2 percent
this week.
German power for next year, a European benchmark contract,
dropped as much as 1.2 percent to 49.7 euros a megawatt-hour.
Carbon permits are linked to power prices because utilities
often buy emissions allowances at the same time they sell
electricity forward.
For Related News and Information:
Top Power Stories: PTOP <GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
Today's top energy news: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: Mike Anderson,
To contact the reporter on this story:
Ewa Krukowska in Brussels at +32-2-237-4331 or
ekrukowska@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net
