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UN Carbon Premium for 2010 Narrows After New-Credit Supply Rises
2010-11-01 17:53:47.621 GMT
By Mathew Carr
Nov. 1 (Bloomberg) -- The premium for United Nations
emission credits for December 2010 over 2011 narrowed to the
lowest spread in two months after the regulator boosted supply
of new credits in October by the most since May.
The supply of new credits rose 14 percent in October to
10.4 million metric tons of carbon-dioxide equivalent from 9.1
million tons in September, according to UN Framework Convention
on Climate Change data on Bloomberg. Credits for 10.5 million
tons were issued in May. None were issued so far today.
The spread, traded as a separate contract on the European
Climate Exchange in London, fell 19 percent to 39 euro cents a
ton, the narrowest gap since Aug. 16, as of 4:43 p.m. European
Union allowances for December rose 9 cents to 14.72 euros
($20.45) a ton.
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--Editors: Mike Anderson, Rob Verdonck.
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
