EU Carbon Permits Pare Early Losses, Tracking German 2014 Power
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.
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