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EU carbon permits hit 29-month low in early trade

Wed, 08/03/2011 - 12:37am
Reuters

LONDON (Reuters) - The benchmark contract for European Union carbon permits fell to a 29-month low of 11.16 euros a tonne in early trade on Wednesday, pushed down by concerns about the eurozone economy, traders said.

EU Allowances for December delivery had recovered slightly to 11.30 euros a tonne by 0800 GMT. The last time EUAs traded around 11.16 was at the end of March, 2009.

U.N.-backed certified emissions reductions slid to a fresh 30-month low of 8.40 euros a tonne.

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