Carbon Offsets Daily

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EU lists industries exempted from carbon trading

| Sourced From Euractiv.com |

Experts from the 27-member bloc agreed on a list of industries ranging from plastics manufacturing to iron and food processing that will be largely exempted from CO2 trading after 2013 for fears that their inclusion would move production abroad.

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  • Published: Sep 11th, 2009
  • Category: UK
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UK auctions 4.2 million EUAs at

LONDON, Sept 10 (Reuters) – The British government auctioned 4.2 million European Union carbon emissions permits at 15.05 euros a tonne, it said on Thursday.
Britain’s fifth auction raised 63.21 million euros ($92.14 million) for the UK Treasury.

Continue Reading on Communities.ThomsonReuters.com

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Report warns EU carbon market will be long through to 2012

| Sourced From BusinessGreen.com |

Falling industrial output means the EU emissions trading scheme will face an oversupply of emissions allowances (EUAs) during the current phase of the market, which runs from 2008 to 2012, according to new research from Barclays Capital.

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New monthly record set on European carbon derivatives market

The European Energy Exchange and Eurex achieved the highest monthly trading volume to date in October for their jointly-operated market for carbon dioxide emission rights, with European Union emission allowance (EUA) futures equivalent to 16.7 million tonnes of carbon dioxide, 17 times higher compared than the equivalent of 977,000 tonnes in October 2007 and up by 90 per cent compared with the previous record month, August.
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German ministry sees EUA allocation within days

FRANKFURT (Reuters) – Germany may receive permission from Brussels to issue carbon emission permits to its industry for 2008 within days, the environment ministry said on Wednesday.

Continue Reading on Reuters

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UK: 7% EUAs on Auction in Phase II, Applications Invited

The British government confirmed today that only 7% of the European Union Allowances (EUAs) will be auctioned. A previous analysis hypothesized that the government may auction around 10% of the allowances, which is the maximum allowed by EU regulations. The analysis was based on reports that the additional auction might be used instead of a windfall tax to cut some profits from energy firms and use them on the fuel-poor people.

UK 7% EUA Auction

However, the Aug 15 Defra press release confirmed 7% allowances would be auctioned, amounting to about 85 million allowances during phase II (2008-2012). The exact number of allowances available in each auction would be officially announced by the Treasury at least one month prior to the auction date. Around 23 million tons of carbon permits are expected to be auctioned in 2008 although the date of the first auction has not been set yet.

Complete details of the emissions scheme can be viewed here (PDF) and eligibility criteria for participation in the auction can be read here.

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Prices of EU Permits Stay Constant

After three months of rising steadily in April, May and June, EU permit prices slumped in July and then recovered somewhat in the first week of August. Bloomberg reports that the prices of EU carbon allowances didn’t change too much this week after the economy contracted and RWE’s decision to purchase more EUAs for its UK operations. EUAs for December reached USD 35.37/metric ton, an increase by 8 cents and CER prices dropped to USD 29.05

Prices of EU Permits Stay Constant

The EU economy, which is a global leader in greenhouse gas trading slackened for the first time in its second quarter – the GDP fell by 0.2 per cent as compared to the first quarter as a result of slowing down of major EU countries.

Also, the UK unit of RWE, Germany’s second biggest power generator announced that it will need to purchase more EUAs than expected because it will be using a greater amount of coal than previously thought.

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Current Carbon Credit Prices Underrated, Mid-Term Increase Expected: IDEAcarbon

The recent Global Carbon Report released by IDEAcarbon reveals that current carbon prices dont seem to match up with market rules of supply and demand. An Aug 14 press release by IDEAcarbon states prices of carbon credits seem to be underrated, as last month witnessed a sharp downward price trend. The Dec 2008 value of EUAs went down by a big 25% from

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