EU Carbon Drops to Record After Nations Delay Vote to Curb Glut
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European Union carbon permits dropped to a record after nations delayed a vote on a plan to temporarily cut the supply of allowances.
EU allowances for December plunged 5.8 percent to the lowest closing price since the contract was first listed in April 2005 on the ICE Futures Europe exchange in London. The EU commission, the bloc’s regulator, said yesterday member states would not vote next month on the plan to cut supply in the three years through 2015. They may not vote until June, according to Bloomberg New Energy Finance.