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EU Carbon Price Will Rebound As Economy Recovers, Delbeke Says
2010-10-26 11:12:46.612 GMT
By Ewa Krukowska
Oct. 26 (Bloomberg) -- The price of carbon-dioxide
allowances in the European Union's cap-and-trade program are
likely to rebound as the region's economy recovers, the director
general for climate at the European Commission said.
"The market price is hovering around 15 euros ($21), and
that looks not too high compared with what we saw two years
ago," the commission's Jos Delbeke told a seminar in Brussels
today. "The low price comes from a recession. We may expect
that one day -- I hope sooner than later -- the economy will
recover and emissions are going to pick up again, and hence the
price will go up again."
Carbon price would "jump" if the EU decides to deepen its
emissions-reduction target to 30 percent by 2020 compared with
1990 from the current goal of 20 percent, Delbeke said. The 27-
nation EU has postponed a debate on moving to a more ambitious
target as member states await a detailed analysis on potential
costs of such a decision.
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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:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
