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Germany Earns 3 Billion Euros From EU Phase Two Carbon Sales

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Nov. 20 (Bloomberg) -- Germany sold its last European Union carbon permits for immediate delivery in the bloc’s second phase, completing three years of sales that earned the nation almost 3 billion euros ($3.84 billion).

Europe’s largest economy today sold 868,000 permits at 6.56 euros a metric ton on the European Energy Exchange AG. EEX has hosted 269 German sales of a total 129 million tons starting in 2010, according to data compiled by Bloomberg. In 2008 and 2009, the country sold 80 million permits through its state-owned KfW bank. The 209 million permits represent 11 percent of Germany’s cap on greenhouse-gas emissions in the second phase of the bloc’s market, which runs from 2008 through 2012. Only the U.K. sold a greater percentage of its permits.

Germany’s sales earned 2.97 billion euros, according to data compiled by Bloomberg. The U.K. sales, which were carried out by the government’s Debt Management Office and totaled 123 million tons, or 11.2 percent of its total cap, earned 1.53 billion euros, according to data compiled by Bloomberg.

The EU is preparing to start the third phase of its carbon market, which runs from 2013 through 2020, in which more than half of all permits will be sold in auctions held by the European Commission, the bloc’s regulator, as well as Germany, the U.K. and Poland. Sales will be hosted by EEX and ICE Futures Europe. Poland has yet to appoint an exchange to hold its auctions.

Ireland, the Czech Republic, Austria, Lithuania, the Netherlands and Greece also auctioned emissions permits during the second phase, according to data compiled by Bloomberg.

To contact the reporter on this story: Alessandro Vitelli in London at avitelli1@bloomberg.net

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

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