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EU carbon prices rise on higher German power, oil

Fri, 08/13/2010 - 2:24am
Reuters

LONDON (Reuters) - European carbon emissions futures rose in early trade on Friday as prices of oil, German power and equities gained ground, traders said.

EU Allowances for December delivery were up 13 cents or 0.9 percent at 14.54 euros ($18.73) a tonne at 0739 GMT, with light volume at 1,387 lots traded.

"We are mimicking power and don't care anymore about the fuel switch since the dark spread is 5 euros above the spark spread, which does not trigger (much movement) in carbon," an emissions trader said.

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