EU May Cut More Than Half of Carbon Permits Sold in 2013
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European Union carbon permits declined as much as 6.3 percent because of doubts that the bloc’s regulator will approve a cut in supply before auctions start in 2013.
Carbon for December dropped as low as 6.75 euros ($8.19) a metric ton on London’s ICE Futures Europe exchange after the European Commission published a draft proposal to delay sales for 2013 through 2015, and EU Commissioner for Climate Action Connie Hedegaard said she was confident the measure would gain approval this year.