EU Carbon Falls to Lowest in Seven Weeks as German Power Drops

European Union carbon permits fell to a seven-week low as German power for 2013 dropped to near its cheapest in three days.

Allowances for December declined as much as 6.3 percent to 7.42 euros a ton on the ICE Futures Europe exchange in London, the lowest since Sept. 26, and were at 7.51 euros at 8:56 a.m. German power for next year slipped 0.3 percent to 47.30 euros a megawatt-hour, according to broker data compiled by Bloomberg.

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