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EU Carbon for December Delivery Rises for Third Consecutive Week

Aug. 17 (Bloomberg) -- European Union carbon allowances rose for a third week, even as German electricity was unchanged and the nation’s Economy Minister Philipp Roesler said the EU should avoid intervention in the emissions market.

EU permits for delivery in December closed at 7.71 euros ($9.50) on London’s ICE Futures Europe exchange, unchanged today and 6.9 percent higher in the week.

German electricity for 2013 fell 0.2 percent today to 49.50 euros a megawatt-hour, according to broker data compiled by Bloomberg. Cheaper prices can curb the incentive to sell electricity forward, lowering demand for carbon permits.

Politicians in Europe should not interfere with the emissions market, Roesler told reporters in Warsaw today, commenting on a plan to delay some auctions of carbon permits to bolster prices.

United Nations carbon offsets for 2013 fell 0.3 percent to 2.90 euros a ton at 5:47 p.m. in London, a decline of 1 percent in the week.

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

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