By Mathew Carr
Jan. 12 (Bloomberg) -- European Union carbon dioxide
permits declined near their lowest in a week as German power
dropped for the second day in three.
Allowances for December 2011 lost as much as 0.6 percent to
14.22 euros ($18.44) a metric ton on the ICE Futures Europe
exchange in London. They were at 14.26 euros a ton as of 11:42
a.m. after reaching as low as 14.20 euros yesterday, the
cheapest since Jan. 4.
Generators buy permits when selling power forward. German
power for next year dropped 0.7 percent to 53.80 euros a
megawatt-hour, according to broker data compiled by Bloomberg.
The benchmark contract has fallen 1 percent over the past year.
Permits in the EU carbon market, the world's largest
greenhouse-gas reduction program by traded volume, gained 6.3
percent in the period, curbing profits from generation.
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Mathew Carr, emissions markets, energy reporter. London Bloomberg News ph +44 207 073 3531 yahoo ID carr_mathew
