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July 12 (Bloomberg) — European Union carbon allowances rose as natural gas prices and German power advanced, boosting demand for emission permits.
EU permits for December gained 0.4 percent to 14.71 euros ($18.53) a metric ton as of 8:06 a.m. on Londons European Climate Exchange. Theyre up 2.5 percent from a seven-week low of 14.35 euros on July 9.
German baseload power for next month added 0.7 percent to 46 euros a megawatt-hour, according to broker prices compiled by Bloomberg. Higher power prices can increase the incentive to sell electricity forward, boosting demand for emission permits.
U.K. natural gas for delivery next month advanced 1.4 percent to 50.9 pence a therm. Higher gas prices may prompt some power utilities to burn more coal, which requires about twice as many carbon permits to use.
–Editors: Rob Verdonck, Stephen Cunningham
To contact the reporter on this story: Ewa Krukowska in Brussels at [email protected]
To contact the editor responsible for this story: Stephen Voss at [email protected]
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