EU Carbon Rises to Four-Day High as Auction Supplies Will Fall
European Union emission permits advanced to their highest in four days as utilities bought to hedge forward sales of power and auction supplies were set to fall next week.
EU allowances for December rose 20 cents, or 2.6 percent, to close at 7.89 euros ($10.20) a metric ton on the ICE Futures Europe exchange in London, the biggest rise since Oct. 17.
United Nations Certified Emission Reduction credits for December increased 2.4 percent to 86 euros cents a ton. Emission Reduction Units for December gained 5 percent to close at 61 cents a ton.
Supplies sold at auction next week will be 7.2 million tons next week, compared with 9 million tons this week, according to data compiled from exchanges handling the sales.
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