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EU Carbon Permits Pare Early Losses, Tracking German 2014 Power

Jan. 3 (Bloomberg) -- European Union carbon-dioxide allowances pared losses as German power erased declines.

Permits for 2013 fell as much as 5.3 percent to the lowest in almost a month. German power for delivery next year, the European benchmark, weakened to a record before closing 0.1 percent higher.

EU carbon for 2013 dropped as low as 6.22 euros ($8.16) a metric ton on London’s ICE Futures Europe exchange, the least since Dec. 5, and closed at 6.40 euros.

German next-year power fell as much as 0.3 percent to 45 euros a megawatt-hour, the lowest since the contract started trading in January 2010, before advancing to close at 45.20 euros, according to broker 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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