EC data reinforces oversupply in carbon market

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Data released Monday, April 2 by the European Commission (EC) through its Community Independent Transaction Log (CITL) showed, contrary to market expectations, that the European Union Emissions Trading Scheme (EU ETS) was oversupplied with emissions allowances in 2011.

The news resulted in carbon prices plummeting to all-time lows. The December 2012 European Union Allowance (EUA) futures contract trading on the ICE European Climate Exchange (ECX) settled on Monday at an all-time low of €6.34 per

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