EU Carbon Permits Drop Most in a Week as Auctions Boost Supply
European Union carbon permits declined the most in a week after Greek and German auctions and before a Czech sale for the current trading period tomorrow.
EU carbon allowances for December dropped as much as 3.3 percent to 7.63 euros ($9.84) a metric ton, the biggest intraday loss since Oct. 3, and closed at 7.72 euros on the ICE Futures Europe exchange in London.
The Czech Republic will offer 1 million spot permits on the European Energy Exchange tomorrow from the reserve for new entrants in the 2008-2012 period of the EU emissions program.
Prices recovered from their lowest of the day after EEX announced it was delaying its first auction of EU permits for the next phase of the bloc’s carbon market by two weeks. The first sale of so-called Phase 3 allowances will take place on Oct. 26, the exchange said in an e-mailed statement.
United Nations carbon offsets for December fell as much as 9.5 percent to 1.71 euros before closing at 1.74 euros on ICE Futures.
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