United Nations Certifed Emission Reduction credits dropped to the lowest level since Sept. 19 as German power for 2013 declined to its cheapest ever, trimming the incentive to sell electricity in forward markets.
CERs for December dropped 4.2 percent to 1.59 euros a metric ton on the ICE Futures Europe exchange in London as of 9:26 a.m. They reached a record 1.43 euros on Sept. 18. European Union carbon allowances for December lost 1.8 percent to 7.69 euros a ton.
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