News | Energy Efficiency

http://planetark.org/enviro-news/item/58155

European carbon emissions futures gained over 2.5 percent on Monday, tracking energy prices, with a national holiday in much of continental Europe meaning many market participants were absent, traders said.

EU Allowances (EUAs) for December delivery rose 34 cents or 2.29 percent to 15.19 euros a tonne at 1252 GMT, with 3,053 lots traded. Dec-10 EUAs were largely stable in the first half an hour of trade.
Certified emissions reductions were up 23 cents or 1.88 percent at 12.48 euros a tonne, setting the EUA-CER spread at 2.71 euros, at its highest in a year.
Some market players were absent on Monday due to a Whit holiday in some EU countries. Banks were pushing prices higher in the absence of some big utilities which could spell some volatile price movements, traders said.
The opening of the U.S. market could increase volatility further, one emissions trader added.
A major carbon conference in Germany from Wednesday will mean that even more players are out of the market this week.
German Calendar 2011 baseload power on the EEX was up 38 cents or 0.75 percent at 51.20 euros per megawatt hour. British gas prices also rose, boosted by uncertainty over Norwegian supply.
Oil fell back below $70 a barrel on Monday, giving up an earlier gain on persistent worries that Europe's debt crisis would slow the global economic recovery.
World stocks failed to hang on to early gains on Monday, falling as Wall Street looked set for losses, and the euro took another hit, dropping more than 1 percent against the dollar.