World news

EUA prices rise over 5%

EU carbon allowances (EUAs) climbed today to a six-week high and finished up over 5% amid stronger German power and oil.

The December 2012 EUA futures contract finished up 41 cents (5.1%) at € 8.45 on ICE Futures Europe in London after rising to € 8.53, the highest level since December 21 last year when it reached € 9.10.

Carbon had support from stronger German power prices which made gains on forecasts of extended cold weather and lower wind power output.

German 2013 baseload power trading on the European Energy Exchange (EEX) finished up 30 cents at € 52.35 per MWh.

Meanwhile, oil prices moved higher on publication of positive industrial data from China and worries about oil supplies from Iran.

Front-month Brent crude oil rose to $ 112.82 a barrel in afternoon trade on ICE, up $1.82 on yesterday’s close.

Germany sold this afternoon in a weekly auction on EEX 645,000 EUA futures at € 8.29, 77 cents higher than last week.

The December 2011 CER futures contract finished up 17 cents (4.3%) at € 4.08 in London.

On BlueNext in Paris, the EUA spot contract gained 39 cents (5%) to € 8.25.

Source: ICE Futures Europe, BlueNext, EEX, Reuters