...nice discount for someone with spare cer-usage capacity for phase II. how much wider can it go folks? comments our way
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Mathew Carr, emissions markets, energy reporter. London Bloomberg News ph +44 207 073 3531 yahoo ID carr_mathew
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UN CO2 Credits' Discount to EU Permits Widens to 18-Month High
2010-11-25 08:35:45.695 GMT
By Mathew Carr
Nov. 25 (Bloomberg) -- The discount of 2012 United Nations
Certified Emission Reductions to European Union permits extended
to its widest in 18 months as EU regulators said they would
publish a proposal today at noon Brussels time.
The plan would "restrict the use of certain industrial gas
credits in the EU emissions trading system post-2012,"
according to a statement on an EU regulatory website.
The spread gained 1.7 percent to 4.29 euros ($5.72) a
metric ton, the biggest discount since May 20, 2009, on the ICE
Futures Europe exchange. ICE handled 1 million tons of the
contract yesterday, the highest daily volume since Nov. 16.
The European Commission, the 27-nation bloc's regulatory
arm, is considering a ban as of 2013 on the use of United
Nations-sponsored credits related to industrial gases including
hydrofluorocarbons and nitrous oxide. The EU wants to present
its proposal to member states "as soon as possible," Climate
Commissioner Connie Hedegaard said Nov. 19.
For Related News and Information:
Top renewable energy, power stories: GREEN <GO>, PTOP <GO>
Bloomberg glossary of emissions terminology: IDOC 2059757 <GO>
Emissions menu, prices: EMIS <GO>, EMIT <GO>
--Editors: Raj Rajendran, Todd White
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:
at +44-20-7073-3520 or sev@bloomberg.net
