Carbon traders have been overly optimistic in expecting detailed proposals from the European Commission on how to deal with the oversupply of EU allowances (EUAs), according to analysts. On Wednesday, a long-awaited announcement by the Commission on ‘backloading’ the Phase III (2013-20) auctions of carbon allowances is expected. EU Climate Action Commissioner Connie Hedegaard has said the Commission will propose withholding some allowances from auctions 2013-14, and introducing them later in the Phase, while also setting out longer-term structural reforms. However, prices have crashed since Tuesday, on unsourced reports that the announcement will not contain any firm numbers, and that reforms could take longer than anticipated. Prices dropped almost 7% on the day, to €7.15 ($8.76) from €7.68 and have continued to plunge, trading at €6.71 when this article went to press.
In The Spotlight
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Cobbie’s Sauce Gives Back Through a Family Recipe
“You have to constantly give your best and raise the bar personally and professionally. We see this played out daily at the Shepherd Center, which continues to make a difference in our daily lives.” -Betty Hulse
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Cobbie’s Sauce Gives Back Through a Family Recipe
Featured Blog
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DoGooder Taste Test
Aspiring foodie, Lianne McLaughlin, whips up our healthy recipes to find out if they taste as good as they look. This week’s recipe: Pumpkin Soup.
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DoGooder Taste Test
