EU Carbon Fix in Energy Report Survives Rejection Attempt
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The European Parliament upheld by a margin of three votes a non-binding recommendation for regulators to tackle oversupply of carbon permits in the world’s biggest market.
Carbon prices surged as much as 20 percent after members of the Parliament voted 292 to 289 with 32 abstentions today to keep a reference to a carbon-market intervention in the assembly’s report on the European Union’s energy policy through 2050. The decision came before the 754-seat assembly’s vote scheduled for April 16 on a separate measure drafted by the European Commission that would enable delaying auctions of some carbon allowances to reduce a record glut in the market that pushed prices to all-time lows.