Sep 11th 2012
Carbon prices drop as the Netherlands refuses allowance delay
Bloomberg reported on Monday 10 September that the Netherlands is unlikely to support attempts to raise the price of carbon. EU Emissions Trading System carbon prices slumped last year following oversupply of allowances, and the EU has been seeking a way to increase them a gain to provide a signal for low-carbon investment. One proposal includes delaying the release of allowances in the next phase of the scheme, but the Dutch government has signalled it would not support this as it could damage the Dutch economy. Following the news carbon prices fell €0.47/t to a weekly low of €7.96/t.
Meanwhile it was announced that the European Energy Exchange (EEX) has been chosen as the operator of the transitional common auction platform for emission allowances for Phase III (2013-2020) of the EU Emissions Trading Scheme. In a press release on Monday the EEX announced it will auction off a total quantity of at least 250mn allowances until a permanent common platform is established. As the transitional common platform EEX will carry out auctions of EU allowances and EU aviation allowances for Phase III on the spot market of the exchange.
Climate Change Levy exempt energy
For those companies looking to become more sustainable, Haven can help.Find out more >