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Germany Sells 850,000 EU Carbon Permits at 7.47 Euros on EEX

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Aug. 15 (Bloomberg) -- Germany sold 850,000 European Union 2012 carbon permits at 7.47 euros ($9.18) a metric ton in an auction on the European Energy Exchange AG, according to the Leipzig-based company’s website.

The country is selling as many as 21 million tons of spot and 32 million tons of futures contracts in weekly sales as part of its allocation of permits in 2012. The EU’s emissions trading system is in its second phase, which runs from 2008 to the end of this year.

EEX has also auctioned Phase 2 permits on behalf of the Netherlands and Lithuania and is selling Phase 3 permits for delivery in 2013 for the European Investment Bank.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

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