Nov. 9 (Bloomberg) -- Germany sold 3 million European Union carbon permits for the third phase at 8.20 euros ($10.44) a metric ton in an auction on the European Energy Exchange AG, according to the bourse’s website.
The sale received bids totaling 11 million tons, representing 3.5 times the volume on offer. That’s the lowest bid volume of the three German Phase 3 spot sales that have taken place so far, according to data from EEX compiled by Bloomberg.
The country is selling as many as 23.5 million tons of permits for immediate delivery under an EU program of so-called early Phase 3 auctions scheduled to take place by the end of the year. The bloc’s emissions trading system’s third phase starts January and runs through 2020.
The spot price for Phase 2 permits, which are eligible until April, was 8.15 euros at 11 a.m. Berlin time, when the EEX auction closed, according to data from the Bluenext SA spot bourse.
EEX, based in Leipzig, Germany, has also sold Phase 2 permits on behalf of Germany, the Netherlands, the Czech Republic and Lithuania, and sold Phase 3 allowances for delivery in 2013 for the European Investment Bank.
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