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CO2 Glut Plan Could Result in Unacceptably High Price, EON Says

Oct. 26 (Bloomberg) -- A plan to temporarily remove carbon permits from auctions planned for next year may result in an unacceptably high price, said EON AG.

“The system is likely to be highly sensitive to the back-loading volume chosen,” the utility said in a submission published on an EU website. “Altering this volume by a couple of hundred million EU allowances could make the difference between an ineffective measure and an unacceptably high EU allowance price. The range of back-loading volumes that would produce an acceptable rise in the EU allowance price may be relatively small and difficult to pinpoint.”

The volume should be derived from the bloc’s emissions-reduction goals, the utility said.

Link to Company News:{EOAN GR <Equity> CN <GO>}

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

To contact the editor responsible for this story: Matthew Brown at mbrown42@bloomberg.net

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