EU carbon price tumbles further to €6.5/t

The price of carbon allowances in the European emissions trading scheme (ETS) reached another record low on Wednesday, with contracts for delivery at the end of the year hitting €6.30 per tonne in the afternoon before closing at around €6.50/t.

Prices for delivery in December 2012 were slightly higher at €6.95/t but international emissions offsets (CERs) from CDM projects languished around €4.00/t.

ETS prices have fallen throughout the second part of the year alongside growing concerns about euro-zone economies and fears over oversupplies on the carbon market. CER prices have also been hit by restrictions on CDM project eligibility.

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