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EU Carbon Permits Plunge to Record After Germany Cancels Sale

European Union emission permits plunged to a record after low bids from utilities, factories and banks forced Germany to cancel a sale for the first time.

EU carbon for December dropped 8.9 percent after the European Energy Exchange AG failed to generate higher bids even after extending the sale by 15 minutes. The unsold volume will be added to the country’s next four auctions.