Under a scenario with fast growth of renewable energy
sources, CO2 emissions from the power and heat industry will
rise 0.7 percent in the five years through 2015 to 1.241 billion
tons, it said. Under a low-renewables scenario, emissions will
rise 4.1 percent for that industry to 1.283 billion tons.
+------------------------------------------------------------------------------+
EU CO2 Little Changed Near 2-Month Low; Coal-Power Profit Falls
2010-11-02 13:58:24.765 GMT
By Mathew Carr
Nov. 2 (Bloomberg) -- European Union carbon-dioxide
allowances were little changed near their lowest price in more
than two months as the profit from burning coal to make German
power neared a two-year low.
EU permits for December fell 0.1 percent to 14.67 euros
($20.58) a metric ton at 1 p.m. on London's European Climate
Exchange. The so-called clean-dark spreads for 2011, a measure
of potential profit at coal-fired stations, fell yesterday to a
two-year low of 3.37 euros a megawatt-hour and were at 3.58
euros as of 12:42 p.m. today in Berlin.
Point Carbon revised down today its 2016 forecast for EU
permits to 30 euros a ton. The Oslo-based provider of research
on emission markets forecast in June that prices would reach 33
euros by 2016.
"The main explanation behind this downward revision lies
in our assumption that more renewables will be built in the
power sector compared to our previous forecast," Point Carbon
said today in an e-mailed statement.
Carbon permits have dropped 3.8 percent in the past month
as nations sell the allowances in auctions and United Nations-
overseen regulators boost the supply of new offset credits that
can be used in the EU program.
Point Carbon's forecast continues to assume the EU will set
a 25 percent emissions-reduction target for 2020 compared with
1990 levels, the researcher said. The bloc's current target is
20 percent.
Under a scenario with fast growth of renewable energy
sources, CO2 emissions from the power and heat industry will
rise 0.7 percent in the five years through 2015 to 1.241 billion
tons, it said. Under a low-renewables scenario, emissions will
rise 4.1 percent for that industry to 1.283 billion tons.
For Related News and Information:
Top Power Stories: PTOP <GO>
Emissions-trading stories: NI ENVMARKET BN <GO>
Today's top energy news: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: Mike Anderson, Jonas Bergman.
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
