Feb 20th 2012
EU considers supporting the price of carbon
Businessgreen reported on Friday 17 February that EU ministers have made a compromise text to withhold carbon permits from auction in order to boost low prices. The agreement has been proposed as a way to boost the currently low price of carbon and ensuring the price of carbon is sufficient to encourage low-carbon investment. Traders have said that the low price of carbon is a result of the oversupply of carbon allowances. An amendment is expected to be put forward for a vote at the end of February, but the text does not specify how many permits will be held back from the next phase of the EU Emissions Trading Scheme. Instead the amendment seeks to bring in measures that could include "withholding the necessary amount of allowances". The news has spurred carbon prices upwards, carbon opened Friday at a three-month high of €9.21/t.
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