UN Carbon Falls to Lowest Since Sept. 19 as German Power Drops

Oct. 15 (Bloomberg) -- United Nations Certifed Emission Reduction credits dropped to the lowest level since Sept. 19 as German power for 2013 declined to its cheapest ever, trimming the incentive to sell electricity in forward markets.

CERs for December dropped 4.2 percent to 1.59 euros a metric ton on the ICE Futures Europe exchange in London as of 9:26 a.m. They reached a record 1.43 euros on Sept. 18. European Union carbon allowances for December lost 1.8 percent to 7.69 euros a ton.

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

To contact the editor responsible for this story: Alessandro Vitelli at avitelli1@bloomberg.net