now 14.88
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Carbon Prices Fall as European Coal Trades Near Two-Year High
2010-11-16 09:19:20.711 GMT
By Mathew Carr
Nov. 16 (Bloomberg) -- European Union carbon allowances
dropped as benchmark European coal derivatives traded near a
two-year high, making the dirtier-burning fuel less profitable
for power utilities.
EU permits for December fell 0.7 percent to 15 euros
($20.41) a metric ton as of 8:50 a.m. on London's ICE Futures
Europe exchange. Generators need about twice as many carbon
permits when burning coal rather than cleaner gas. The EU
emissions market is the world's largest.
Coal for delivery to Amsterdam, Rotterdam or Antwerp with
settlement for next year fell 0.3 percent to $107 a ton,
according to broker data. It yesterday traded as high as $107.75
a ton, the highest price since Nov. 10, 2008.
The coal data are drawn from information supplied by ICAP
Plc, GFI Group Inc., Spectron Group Ltd., Credit Suisse Group
AG, IHS McCloskey, Bloomberg and Tradition Financial Services.
For Related News and Information:
Top Energy Stories: ETOP <GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
European power-markets home page: EPWR <GO>
--Editors: Mike Anderson, Randall Hackley.
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 on +44-20-7073-3520 or sev@bloomberg.net
