By Mathew Carr
Dec. 15 (Bloomberg) -- United Nations emission credits for
March 2013 yesterday rose above those for 2012 for the first
time in more than a year as concern by traders ebbed that
delivered permits may be banned from use by the European Union.
"December 2012 will probably be the weak link in the
Certified Emission Reduction curve as risk-averse buyers steer
clear," worried that credits delivered at that time may be
banned by European Union regulators shortly afterward, said
Alessandro Vitelli, an analyst in London at IDEAcarbon, which
rates emission-reduction projects.
A proposed ban by the EU starting Jan. 1, 2013, had
prompted concern traders would not be able to use some CERs
delivered after that date for compliance with the rules of the
EU emissions trading system.
The discount of December 2012 futures over March 2013
yesterday was minus 18 euro cents (minus 24 U.S. cents) a ton,
the first time the earlier contract was worth less since Nov. 6,
2009, according to data from the ICE Futures Europe exchange in
London. The premium was as much as 90 cents a ton on Nov. 25. For Related News and Information:
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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:
Mike Anderson at +44-20-7673-2718 or
manderson34@bloomberg.net
