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  • Published: Jun 30th, 2010
  • Category: Global
  • Comments: 4

Carbon Spread Narrows as Traders Bet On Fewer UN Credits: Energy Markets


| Sourced From Bloomberg |

The gap between carbon permits in the European Union and United Nations markets reached the narrowest in three months on speculation that the world organization will restrict credits for hydrofluorocarbons.

A UN panel meets this week in Bonn to consider limits on how many credits are provided to investors who pay to reduce so- called HFCs, which can trap about 12,000 times more heat per molecule than carbon dioxide, after allegations of misuse.

EU carbon permits for 2012 have advanced 17 percent this year as the economic recovery leads to greater demand for power from utilities and factories, which must simultaneously curb greenhouse gas emissions. The cheaper UN credits have risen at a faster pace since the end of May, narrowing the gap between the two to 3.12 euros ($3.84) a metric ton today on Londons European Climate Exchange. The spread tightened 26 percent from this years high of 4.20 euros on May 13.

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