EU Carbon May Drop to 3.70-4 Euros: New Energy Finance

(Corrects Feb. CER supply forecast in third bulletpoint.)

James Cooper, London-based analyst at Bloomberg New Energy Finance, comments on carbon market in e- mailed note. * “Steady price declines” for EU permits “may be inevitable” amid weekly oversupply: Cooper * December carbon falls 3.9% to 4.17 euros a metric ton, according to ICE Futures Europe in London. Contracts jumped to as high as 4.4 euros a ton on Feb. 1. * UN Certified Emission Reductions supply in Feb. may fall to about 9.3m metric tons due to high cost of verification and issuance relative to market price: Cooper

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