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Greyhound Halts Trading as CO2 Prices Stagnate, CarbonDesk Says
2010-11-11 13:06:34.944 GMT
By Mathew Carr and Lars Paulsson
Nov. 11 (Bloomberg) -- Greyhound Energy Markets Ltd. has
stopped operations and is "on hold" while the European Union
carbon market is "stuck in a band," according to Greyhound
shareholder CarbonDesk Group Plc.
CarbonDesk, a London-based emission-permit broker and
investor, announced in March its purchase of a 33 percent
interest in Greyhound to trade in energy and carbon markets.
"It didn't really work," Brett Stacey, chief executive
officer of London-based CarbonDesk, said today in a phone
interview. "We didn't lose money. We weren't making money. We
decided to call it a day."
Greyhound's Jerry Vlam and Simon Gadd have stopped trading
for the venture, Stacey said. Benchmark carbon prices have
stayed in a range of 13.53 euros to 16.52 euros ($18.54-$22.64)
a metric ton in the past seven months, according to data from
ICE Futures Europe.
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: John Buckley, Randall Hackley
To contact the reporters on this story:
Mathew Carr in London at +44-20-7073-3531 or
m.carr@bloomberg.net;
Lars Paulsson in London at +44-20-7673 2759 or
lapulsson@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss at +44-20-7073-3520 or sev@bloomberg.net.
