EU Emitters Trade Spot Permits Before Carbon Compliance Deadline
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Trading in European Union spot carbon permits rose this quarter compared with the last year’s average as factories and power plants bought back allowances they sold to raise cash at the start of Europe’s recession.
Trading in permits eligible for use in the five years through 2012 was 22 million metric tons in the first quarter, according to ICE Futures Europe exchange in London. That’s similar to the previous three months and double the quarterly average for the so-called Phase 2 permits handled in 2012 by NYSE Euronext SA’s Bluenext exchange, which closed in December.