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EU carbon up 2 percent early on German power, U.S. bill

Wed, 05/12/2010 - 12:24am
Reuters

LONDON (Reuters) - European carbon prices rose for a second day on Wednesday, boosted by higher German power, details of the long awaited U.S. Senate climate bill, due to be unveiled later, and comments from the EU climate commissioner on Tuesday.

Dec-10 EU Allowance futures climbed as high as 15.98 euros per tonne in the first hour of trade, up 29 cents or 1.8 percent. The futures were trading at 15.91 euros at 0700 GMT on volume of nearly 4,000 lots transacted.

The Dec-10 EUAs on Tuesday briefly broke below 15 euros for the first time since April 29. They also for a time fell below their 20-day moving average for the first time since April 1, the day the EU published preliminary emissions data for the trading scheme for 2009.

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