EU action gives carbon prices a boostCarbon News has reported that carbon prices are rising on the back of European moves to limit supply. The European Parliament is considering changing the rules governing the European Emissions Trading Scheme to allow the flow of units into the scheme to be limited from 2013 as a way of bolstering prices.Carbon fell 80 per cent last year amid an oversupply in Europe and concern over the financial stability of the region. In New Zealand, that meant that spot CERs fell from the $17 range in July to a low of $5.59 on January 19. The European tumble also affected New Zealand’s domestic carbon units, NZUs, which fell from a range of $18 to $21 in the first part of last year to a low of $6.90 this year. But CER prices were up on news that the European Parliament is likely to accept the so-called set-aside provision. Source: 2012 Carbon News
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