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EU's carbon market suffers after parliamentary vote

Thu, 01/24/2013 - 1:25am
Reuters

BRUSSELS (Reuters) - Carbon prices on the European Union's Emissions Trading Scheme (ETS) sank to another record low on Thursday after European politicians opposed plans to prop up the market.

The price of permits to produce carbon - known as allowances - fell to 2.81 euros a metric ton (1.1023 tons) after a vote in the European Parliament's energy and industry committee.

The vote is not binding, but is the latest sign of the difficulty the European Union is having in reaching agreement on how to intervene in the carbon market.

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