19.05.2015 - Backloading slightly reduces EU 2014 C02 permit surplus: Commission
A surplus of European Union carbon permits for 2014 has gone down by around 0.03 billion to 2.07 billion due to a reduction in auction volumes through a process known as backloading, the European Commission said on Monday. The EU's executive said the cumulative surplus in permits traded under the bloc's Emissions Trading System (ETS) was slightly reduced to around 2.07 billion for the 2014 compliance year from 2.1 billion. Backloading started last year and reduces the amount of carbon permits to be auctioned on the market. It was designed to reduce the oversupply of permits which has dragged EU carbon prices down to low levels...............................................Full Article: Source
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