23.05.2014 - UBS slashes EU carbon price forecast
Swiss investment bank UBS slashed its year-end EU carbon price forecast by 23 per cent due to the weaker-than-expected market impact of the bloc's plan to cut the supply of carbon permits. Analysts at the bank now predict front-year EU Allowance (EUA) prices will end the year at around 10 euros per tonne, down from a previous forecast of 13 euros. With prices at around 4.70 euros on Tuesday, the updated view still represents a more-than 100 per cent premium on current levels. The bank said in a report published on Monday that it expected prices to average 7 euros this year before rising to 13 euros by the end of 2015, below its former estimate of 15 euros............................................Full Article: Source
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