Poor return for first phase three EU ETS auction

The UK has sold 6.5 million tonnes of carbon allowances for €6.62 each. This is just half the average price achieved over the past four years

Phase three auctioning pricesThe UK undertook its first auction of allowances for the third phase of the EU emissions trading scheme (EU ETS) on 21 November.

But the 6.5 million tonnes of allowances sold for just €6.62 on average, the energy and climate change department (DECC) said.

This is below the current carbon price of €6.71 and illustrates the problems of the carbon market caused by the recession and historic oversupply of allowances.

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