EU Carbon Rights Pare Losses After Netherlands's Permit Sale Is Canceled
European Union carbon-dioxide allowances for December pared losses after the Netherlands canceled an auction on the Climex exchange.
EU allowances for December were down 4 cents at 15.59 euros ($21.95) a metric ton as of 11:08 a.m. on London’s European Climate Exchange. They earlier traded as low as 15.46 euros.
Contracts for delivery tomorrow fell 0.3 percent to 15.54 euros a ton. The Dutch government had planned to sell 2 million permits today via Utrecht, Netherlands-based Climex. The auction result was due at 10:15 a.m. London time.
The Dutch government canceled the sale “because information on orders in the Auction Book was available in the market,” Climex said in an e-mail. “Further information on when the 2 million EUAs will be auctioned will be provided at a later stage.”
To contact the reporter on this story: Catherine Airlie at cairlie@bloomberg.net
To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net
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