| The price of carbon allowances in the EU emissions trading scheme should reach its highest level in several years in the coming months, after the European Parliament today finalised its plan to tackle oversupply in the market by delaying the auction of 900 million carbon credits.
As expected the Parliament overwhelmingly backed the so-called "backloading" plan, voting by 385 to 284 in favour of the proposal. The latest vote, which follows a long-running debate this summer over whether or not politicians should intervene in the market to tackle the oversupply that has led to record low prices for EU Allowances (EUAs), confirms that allowances will now be withheld from auction from next year...............................................Full Article: Source |