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BlueNext Introduces Spot Emission Reduction Units (Update1)
2010-12-03 12:10:08.233 GMT
(Adds BlueNext comments in fifth paragraph.)
By Mathew Carr
Dec. 3 (Bloomberg) -- BlueNext, the environmental exchange
based in Paris, is offering a spot contract for Emission
Reduction Units starting today, boosting its product range and
taking advantage of higher supply.
"We consider there are people looking for price
discovery," François-Xavier Saint-Macary, chairman and chief
executive officer of BlueNext, said in a phone interview.
ERUs stem from the 1997 Kyoto Protocol's Joint
Implementation program to create incentives for emission-
reduction projects in developed nations including Russia and the
former-Soviet states. Manufacturers and utilities can use them
to comply with emissions limits in the European CO2 market, the
world's largest.
BlueNext handled two auctions of the units in January and
September of this year, according to an e-mailed statement.
About 40,000 tons of contracts may trade each day initially,
said Keiron Allen, a spokesman for the exchange.
Volumes of Certified Emission Reduction credits from the
Clean Development Mechanism handled by the exchange in the past
12 daily sessions averaged 139,000 tons of carbon dioxide
equivalent, BlueNext data show.
BlueNext is also considering offering new types of CER
futures for 2013, after the European Union last month proposed a
ban on some credits from industrial gas projects starting that
year, Saint-Macary said. "We are consulting our members," he
said. "We want to make sure there is a real appetite."
For Related News and Information:
Emission market news: NI ENVMARKET <GO>
Today's top energy stories: ETOP <GO>
European power-markets home page: EPWR <GO>
--Editors: Alex Devine, Mike Anderson.
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 at +44-20-7073-3520 or
sev@bloomberg.net
