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EU Carbon Falls as U.K. Tax Pushes Costs Above Osborne’s ‘Floor’

European Union carbon prices fell as U.K. utilities prepared for emissions charges that will exceed the “floor” cited yesterday by the chancellor.

EU permits for December dropped 2.4 percent to 16.54 euros ($23.50) a metric ton on London’s ICE Futures Europe exchange after Chancellor of the Exchequer George Osborne included a a so-called carbon-price support in yesterday's budget.