EU carbon permits for December rose for the second day as electricity prices extended gains amid declining wind power in Germany and forecasts for below-average temperatures across the region.
Allowances for December delivery advanced as much as 9.1 percent to 4.90 euros ($6.30) a metric ton on ICE Futures Europe, the highest since March 4. The contract closed at 4.62 euros a ton, an increase of 2.9 percent from yesterday.
Week-ahead power rose in France, the Nordic region and Germany, where wind generation was forecast to peak at 10,500MW at 3 p.m. Berlin time tomorrow, down 18 percent from today’s peak of 12,776MW at 9:30 a.m. today. Temperatures in London are forecast to be 0.6 degrees Celsius tomorrow, compared with a seasonal norm of 8.3 degrees, according to MetraWeather data using the ECMWF model on Bloomberg.
United Nations Certified Emission Reductions for December were unchanged at 33 euro cents a ton on ICE Futures.
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