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EU Carbon Declines to Record


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#1    questionmark

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    Cinicus Magnus

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Posted 21 January 2013 - 08:47 PM

Bloomberg said:


European Union emission permits fell to a record before sales planned for this week of 15.7 million metric tons, which will further boost supply.

EU carbon for December dropped 3.1 percent as nations prepared for four auctions this week on the European Energy Exchange AG. A sale by Germany on Jan. 18 failed, even after EEX extended it by 15 minutes. The unsold volume will be added to the country’s next four weekly auctions.
Permits lost 16 cents to close at 4.95 euros ($6.59) a metric ton on London’s ICE Futures Europe exchange. Certified Emission Reduction credits for December rose 2 cents to 34 euro cents a ton on ICE.

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#2    Taun

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Posted 21 January 2013 - 10:04 PM

I admit that I do not understand how the whole "carbon permit" thing works...  Is this good news or bad news?...


#3    Hasina

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Posted 21 January 2013 - 10:08 PM

"You buy my carbon and I'll buy your carbon and WHY ARE WE JUST FAFFING ABOUT?!" -governments "Oh wait for the lulz and moniez." -gumenttrollface-

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#4    Br Cornelius

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Posted 22 January 2013 - 09:30 AM

View PostTaun, on 21 January 2013 - 10:04 PM, said:

I admit that I do not understand how the whole "carbon permit" thing works...  Is this good news or bad news?...
It may just mean that the carbon trading scheme is having the intended effect of incentivising the increase in efficiency in heavy fuel use industry.
However it is more likely to be just a reflection of the decline of heavy industry in a depressed world economy.

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#5    questionmark

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    Cinicus Magnus

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Posted 22 January 2013 - 10:25 AM

View PostTaun, on 21 January 2013 - 10:04 PM, said:

I admit that I do not understand how the whole "carbon permit" thing works...  Is this good news or bad news?...

In view that the Germans are still producing as if nothing happened in the world (in fact, crisis or not they are growing and they are the biggest producer by far in Europe)) I would say it is acceptable news. In the next round it might be bad news. You always have to consider news of this type in the relation of work produced.

Now, the carbon permit allots a certain amount of carbon based energy consumption to every company based on their size, if they consume less they can sell the permits to others that consume more getting the savings of the less consumption and the money gotten from selling the permits. If a certain amount do not sell within a certain time the government will issue less the next time around, or if the price goes through the roof strangling the economy they can issue a few more. The ultimate goal is not having to issue any permits.

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#6    Taun

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Posted 22 January 2013 - 01:10 PM

Thanks for the explanations everyone...





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