EU Carbon Advances to Highest in a Week as Sale Bids Increase

European Union carbon permits for December advanced to the highest in a week as bidding in an auction today was at a higher level than two days ago.

The benchmark futures contract advanced 3.9 percent to close at 6.39 euros ($8.28) a metric ton on London’s ICE Futures Europe exchange, the highest since Nov. 29.

A sale by the EU today attracted bids of 11.8 million tons for the 5.3 million tons being auctioned, according to data from the website of the European Energy Exchange AG in Leipzig, Germany. An auction of the same size two days ago attracted bids of almost 10 million tons.

To contact the reporter on this story: Mathew Carr in London at m.carr@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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