Emission Permits Rise After Crude Oil Reaches a 10-Month High
By Mathew Carr
July 6 (Bloomberg) -- European Union carbon dioxide permits rose after crude oil reached a 10-month high yesterday, boosting today's natural-gas prices for delivery next year.
Emission permits for delivery in December 2008 added 22 cents, or 1 percent, to 21.70 euros ($29.19) a metric ton, according to prices from the European Climate Exchange in Amsterdam. They earlier today traded as high as 21.89 euros.
Utilities need twice as many permits to burn coal as they do to use gas. Higher gas prices potentially make that fuel less profitable and can boost demand for emission allowances from power utilities wanting to burn coal instead. The EU's greenhouse-gas trading program is the world's biggest.
Showing posts with label emission permits. Show all posts
Showing posts with label emission permits. Show all posts
Friday, July 6, 2007
Friday, June 29, 2007
Emissions news
Emission Permits Rise to Week's High on Expected German Demand
By Mathew Carr
June 28 (Bloomberg) -- European Union emission permits rose to their highest in a week, on speculation demand from proposed German power stations will exceed the permits set aside by the national government, a Deutsche Bank AG analyst said. Rising power prices helped push permits higher.
EU carbon dioxide emission permits for December 2008 gained 93 cents, or 4.3 percent, to close at 22.36 euros ($30.11) a metric ton on the European Climate Exchange in Amsterdam. They earlier traded as high as 22.60 euros a ton, their highest since June 21.
Demand for permits from yet-to-be-built power plants may reach 33 million tons a year in the five years through 2012, said Mark Lewis, a Paris-based emissions analyst at Deutsche Bank. That's 15 million tons a year more than the 18 million tons a year Germany has set aside for new plants, Lewis said today by telephone.
Emission permits sometimes follow German electricity because higher electricity prices make it more profitable for power plants to burn fossil fuels. Germany is the largest electricity market in the EU, home to the biggest greenhouse-gas trading program.
Baseload German power for next year, a European benchmark, rose 20 cents, or 0.4 percent, to 56.30 euros a megawatt hour, according to prices from ICAP Plc.
By Mathew Carr
June 28 (Bloomberg) -- European Union emission permits rose to their highest in a week, on speculation demand from proposed German power stations will exceed the permits set aside by the national government, a Deutsche Bank AG analyst said. Rising power prices helped push permits higher.
EU carbon dioxide emission permits for December 2008 gained 93 cents, or 4.3 percent, to close at 22.36 euros ($30.11) a metric ton on the European Climate Exchange in Amsterdam. They earlier traded as high as 22.60 euros a ton, their highest since June 21.
Demand for permits from yet-to-be-built power plants may reach 33 million tons a year in the five years through 2012, said Mark Lewis, a Paris-based emissions analyst at Deutsche Bank. That's 15 million tons a year more than the 18 million tons a year Germany has set aside for new plants, Lewis said today by telephone.
Emission permits sometimes follow German electricity because higher electricity prices make it more profitable for power plants to burn fossil fuels. Germany is the largest electricity market in the EU, home to the biggest greenhouse-gas trading program.
Baseload German power for next year, a European benchmark, rose 20 cents, or 0.4 percent, to 56.30 euros a megawatt hour, according to prices from ICAP Plc.
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