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Jefferies Raises 2014 Carbon Forecast on Glut Fix

Nov. 13 (Bloomberg) -- Jefferies Group Inc. boosted its forecast for European Union carbon permit prices in 2014 by 11 percent after the regulator proposed yesterday to temporarily cut supply in the three years through 2015.

Carbon may rise to about 12 euros ($15.23) a metric ton by that year, compared with an earlier forecast of 10.80 euros a ton, Matthew Gray, an analyst and trader at Jefferies in London, said today by e-mail.

The European Commission probably will be able win approval from nations for its plan to delay sales of 900 million metric tons, Gray said today by phone.

“I suspect they would have been doing negotiations in the background,” he said.

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

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

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