Greece Fails to Sell 500,000 EU Carbon Permits Amid Low Bids

Greece failed to sell 500,000 spot European Union carbon permits in an auction on Hellenic Exchanges SA’s Athens exchange, according to the bourse.

The sale could not be completed as bids failed to match the Greek government’s minimum sales price of 6.75 euros ($8.75) a metric ton at the close of the bidding period, Alexandra Grispou, a spokeswoman for the Athens Exchange, said today in an e-mailed response to questions.

Four buyers participated in the sale, with the highest bid at 6.69 euros a ton, Grispou said.

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