Carbon Prices Plunge

The Wall Street Journal reports:

Prices for carbon allowances fell to a record low after European Union data showed a surprise drop in emissions within the region’s trading system in 2011 compared with the previous year. The decline mostly was due to the power sector, with the falloff attributed to increased efficiency and warmer-than-usual weather…

The results don’t bode well for the price of carbon emissions unit allowances, known as EUAs, which already were trading near record lows, before the data were released. Carbon allowances for December delivery fell to an intraday low of €6.14 ($8.19) a ton, before paring losses to settle down 11%, to €6.34…

Read the report.

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