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EU Carbon Permits Gain the Most in Two Weeks as Gas, Power Rise
2010-12-02 09:31:59.353 GMT
By Ewa Krukowska
Dec. 2 (Bloomberg) -- European Union carbon allowances for
December rose the most in two weeks as natural gas and German
power prices advanced, boosting demand for emission permits.
EU allowances for December climbed as much as 1.6 percent
to 15.07 euros in London, the biggest intraday gain since Nov.
17. The contract traded at 15.07 euros as of 9:20 a.m. on the
ICE Futures Europe exchange.
Natural gas for delivery into Britain next month rose 2.1
percent to 57.4 pence a therm. Higher gas prices can lead to
utilities switching to coal power stations. Coal-fed plants
require about twice as many permits as natural gas stations.
German baseload power for next year, a European benchmark,
gained 0.7 percent to 50.30 euros a megawatt-hour, according to
broker prices on Bloomberg. Carbon permits are linked to power
prices because utilities often buy emissions allowances when
they sell electricity forward.
For Related News and Information:
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Today's top energy news ETOP <GO>
U.K. electricity prices ELEU <GO>
Natural-gas markets menu NATG <GO>
--Editors: Mike Anderson, Randall Hackley.
To contact the reporters on this story:
Ewa Krukowska in Brussels at +32-2-237-4331 or
ekrukowska@bloomberg.net
To contact the editor responsible for this story:
Stephen Voss on +44-20-7073-3520 or sev@bloomberg.net
