A European Union carbon trade worth about 195 million euros was cleared on the ICE Futures Europe exchange yesterday.
The trade of 24.68 million metric tons of December 2013 carbon allowances that may have been brokered or carried out directly between the buyer and the seller was at an undisclosed price, according to data from the exchange. The contract traded at 7.90 euros ($10.06) a ton 49 seconds later, the data show.
EU permits for December this year, the industry benchmark, fell 3.2 percent to 6.90 euros a ton on ICE today at 10:14 a.m. The contract has dropped 17 percent so far this week, which would be the biggest weekly fall since Nov. 25 last year, as the European Commission in Brussels seeks to fix a glut in supply.
The EU is seeking to push more commodities trading onto regulated exchanges from less-regulated over-the-counter markets. ICE handled a record volume of 78.8 million tons of carbon permits yesterday, worth about 562 million euros at yesterday’s closing price for the benchmark contract of 7.13 euros a ton.
United Nations Certified Emission Reduction credits for December rose 7.4 percent to 73 euro cents a ton on ICE.