(BN) Spectron Handles First California Brokered CO2 Trade (Update1)


Spectron Handles First California Brokered CO2 Trade (Update1)
2010-11-23 14:31:50.715 GMT

(Adds Barclays trade in second paragraph.)

By Mathew Carr
Nov. 23 (Bloomberg) -- Spectron Group Ltd. handled the
first brokered forward-trade agreement for California carbon
allowances at $11.50 a metric ton, the London-based broker said
today in an e-mailed statement.
On Nov. 17, Barclays Plc and NRG Energy Inc., the largest
U.S. independent power producer, said they completed the first
deal for carbon-dioxide permits under California's planned cap-
and-trade program for greenhouse gases.
The most populous U.S. state is moving ahead with its
program to curb global-warming gases after federal cap-and-trade
legislation championed by President Barack Obama stalled in
Congress this year. Republicans and some Democrats called the
plan an energy tax in disguise.

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--Editors: Rob Verdonck, Stephen Cunningham

To contact the reporter on this story:
Mathew Carr in London at +44-20-7073-3531 or

To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net